Adell Harriman & Carpenter Inc. reduced its position in Biogen Inc (NASDAQ:BIIB) by 48.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,355 shares of the biotechnology company’s stock after selling 2,221 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Biogen were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. BTIM Corp. boosted its stake in shares of Biogen by 132.0% in the 4th quarter. BTIM Corp. now owns 6,054 shares of the biotechnology company’s stock worth $1,822,000 after buying an additional 3,445 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Biogen by 4.3% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 135,222 shares of the biotechnology company’s stock worth $40,691,000 after buying an additional 5,587 shares during the last quarter. Gotham Asset Management LLC boosted its stake in shares of Biogen by 34.3% in the 4th quarter. Gotham Asset Management LLC now owns 106,435 shares of the biotechnology company’s stock worth $32,028,000 after buying an additional 27,164 shares during the last quarter. Smith Asset Management Group LP boosted its stake in shares of Biogen by 31.5% in the 4th quarter. Smith Asset Management Group LP now owns 115,491 shares of the biotechnology company’s stock worth $34,872,000 after buying an additional 27,672 shares during the last quarter. Finally, Triangle Securities Wealth Management boosted its stake in shares of Biogen by 0.9% in the 1st quarter. Triangle Securities Wealth Management now owns 6,813 shares of the biotechnology company’s stock worth $1,610,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

NASDAQ BIIB opened at $230.59 on Thursday. The firm has a market cap of $43.75 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.89 and a beta of 1.01. The company has a current ratio of 2.84, a quick ratio of 2.60 and a debt-to-equity ratio of 0.43. Biogen Inc has a fifty-two week low of $216.12 and a fifty-two week high of $388.67.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.88 by $0.10. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.38 billion. Biogen had a return on equity of 41.39% and a net margin of 33.79%. Biogen’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $6.05 earnings per share. On average, equities research analysts anticipate that Biogen Inc will post 29.58 EPS for the current year.

A number of equities analysts have recently issued reports on the company. Oppenheimer set a $372.00 price target on Biogen and gave the stock a “buy” rating in a research note on Friday, January 25th. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and dropped their price target for the stock from $397.00 to $346.00 in a research note on Thursday, February 21st. Citigroup raised their price target on Biogen from $372.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 30th. Leerink Swann raised their price target on Biogen from $328.00 to $341.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 30th. Finally, Mizuho set a $427.00 price target on Biogen and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $288.96.

In other Biogen news, CEO Michel Vounatsos purchased 4,351 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average cost of $231.48 per share, with a total value of $1,007,169.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Pangia sold 6,114 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $328.55, for a total value of $2,008,754.70. Following the sale, the director now directly owns 24,701 shares in the company, valued at $8,115,513.55. The disclosure for this sale can be found here. Insiders have purchased 173,035 shares of company stock worth $39,759,632 over the last quarter. 0.29% of the stock is owned by company insiders.

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Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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