Cim Investment Mangement Inc. cut its stake in Biogen Inc. (NASDAQ:BIIB) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,311 shares of the biotechnology company’s stock after selling 47 shares during the quarter. Cim Investment Mangement Inc.’s holdings in Biogen were worth $898,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in BIIB. Pathstone Family Office LLC acquired a new position in shares of Biogen during the 1st quarter worth approximately $102,000. Prentiss Smith & Co. Inc. raised its stake in shares of Biogen by 14.9% during the 2nd 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. Independent Portfolio Consultants Inc. raised its stake in shares of Biogen by 93.2% during the 2nd 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. Winfield Associates Inc. raised its stake in shares of Biogen by 16.8% during the 1st 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. Finally, Carroll Financial Associates Inc. raised its stake in shares of Biogen by 1.2% during the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after buying an additional 6 shares during the period. 87.26% of the stock is owned by institutional investors.
In other news, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the sale, the executive vice president now owns 27,232 shares of the company’s stock, valued at $7,761,120. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the sale, the executive vice president now directly 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. 0.32% of the stock is owned by insiders.
BIIB has been the subject of several research analyst reports. Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price for the company. in a research note on Tuesday, August 29th. ValuEngine raised Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Mizuho reduced their target price on Biogen from $290.00 to $274.00 and set a “neutral” rating for the company in a research note on Wednesday, May 31st. Cowen and Company reaffirmed an “outperform” rating and set a $271.00 target price on shares of Biogen in a research note on Monday, July 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Monday, June 26th. Twelve equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Biogen currently has a consensus rating of “Buy” and a consensus price target of $329.95.
Biogen Inc. (NASDAQ BIIB) opened at 329.69 on Wednesday. The stock has a 50 day moving average price of $294.57 and a 200 day moving average price of $277.13. The firm has a market cap of $69.71 billion, a price-to-earnings ratio of 21.63 and a beta of 0.77. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $329.95.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data 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 the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.21 earnings per share. Equities research analysts expect that Biogen Inc. will post $21.44 EPS for the current year.
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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