NuWave Investment Management LLC lifted its stake in shares of Biogen Inc (NASDAQ:BIIB) by 8,338.5% in the second quarter, HoldingsChannel reports. The fund owned 2,194 shares of the biotechnology company’s stock after acquiring an additional 2,168 shares during the period. NuWave Investment Management LLC’s holdings in Biogen were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in BIIB. Northwest Wealth Management LLC lifted its holdings in Biogen by 188.9% in the 1st quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 68 shares in the last quarter. Resources Investment Advisors Inc. raised its holdings in shares of Biogen by 500.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Weaver Consulting Group purchased a new stake in shares of Biogen during the 1st quarter worth approximately $28,000. Private Ocean LLC purchased a new stake in shares of Biogen during the 1st quarter worth approximately $31,000. Finally, Somerset Trust Co raised its holdings in shares of Biogen by 150.0% during the 1st quarter. Somerset Trust Co now owns 140 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 87.33% of the company’s stock.

Biogen stock traded down $1.25 during mid-day trading on Monday, hitting $236.96. The company’s stock had a trading volume of 4,505 shares, compared to its average volume of 1,307,694. The company has a 50 day simple moving average of $233.68. The company has a market capitalization of $43.78 billion, a PE ratio of 9.06, a PEG ratio of 0.88 and a beta of 0.97. The company has a current ratio of 2.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.49. Biogen Inc has a one year low of $216.12 and a one year high of $358.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $7.58 by $1.57. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.48 billion. Biogen had a return on equity of 44.89% and a net margin of 37.62%. Biogen’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.80 EPS. Analysts expect that Biogen Inc will post 32.08 earnings per share for the current fiscal year.

Several analysts have recently issued reports on the company. Wedbush set a $190.00 price objective on Home Depot and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Mizuho upped their price objective on Facebook from $230.00 to $247.00 and gave the stock a “buy” rating in a report on Thursday. Credit Suisse Group assumed coverage on Regeneron Pharmaceuticals in a report on Monday, May 20th. They set a “neutral” rating and a $336.00 price objective on the stock. Piper Jaffray Companies set a $265.00 price objective on SVB Financial Group and gave the stock a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on Teck Resources from C$56.00 to C$55.00 in a report on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and five have issued a buy rating to the stock. Biogen has an average rating of “Hold” and a consensus target price of $269.74.

In other news, CEO Michel Vounatsos purchased 4,351 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $231.48 per share, with a total value of $1,007,169.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexander J. Denner purchased 50,342 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were purchased at an average cost of $229.25 per share, for a total transaction of $11,540,903.50. Following the transaction, the director now directly owns 10,909 shares in the company, valued at approximately $2,500,888.25. The disclosure for this purchase can be found here. Insiders acquired a total of 173,035 shares of company stock worth $39,759,632 in the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

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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