First Midwest Bank Trust Division reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 3,066 shares of the biotechnology company’s stock after selling 120 shares during the period. First Midwest Bank Trust Division’s holdings in Biogen were worth $832,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pathstone Family Office LLC purchased a new position in Biogen during the first quarter worth approximately $102,000. Prentiss Smith & Co. Inc. raised its position in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares during the period. Crestwood Advisors Group LLC purchased a new position in Biogen during the first quarter worth approximately $106,000. Independent Portfolio Consultants Inc. raised its position in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares during the period. Finally, Winfield Associates Inc. raised its position in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Shares of Biogen Inc. (BIIB) traded down 2.05% on Thursday, reaching $282.82. 616,029 shares of the company traded hands. The firm has a 50-day moving average price of $281.33 and a 200 day moving average price of $273.88. Biogen Inc. has a one year low of $244.28 and a one year high of $329.83. The company has a market capitalization of $59.80 billion, a PE ratio of 18.56 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Zacks’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.21 EPS. Equities analysts forecast that Biogen Inc. will post $21.44 EPS for the current fiscal year.
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A number of equities analysts have commented on the stock. UBS AG restated a “neutral” rating and issued a $285.00 price target (up from $270.00) on shares of Biogen in a research report on Wednesday, July 26th. Sanford C. Bernstein restated an “outperform” rating on shares of Biogen in a research report on Thursday, May 25th. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price target on the stock. in a research report on Wednesday, June 21st. Deutsche Bank AG restated a “buy” rating and issued a $319.00 price target (up from $315.00) on shares of Biogen in a research report on Wednesday, July 26th. Finally, Piper Jaffray Companies set a $442.00 price target on shares of Biogen and gave the company a “buy” rating in a research report on Monday, May 15th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Biogen has an average rating of “Buy” and a consensus target price of $329.74.
In other Biogen news, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of the sale, the director now owns 6,330 shares in the company, valued at approximately $1,622,442.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. Insiders have sold a total of 13,816 shares of company stock valued at $3,931,380 in the last 90 days. 0.32% of the stock is currently owned by company insiders.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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