Marshall Wace LLP Has $917,000 Position in Biogen Inc. (NASDAQ:BIIB)

Marshall Wace LLP lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 96.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,358 shares of the biotechnology company’s stock after selling 85,489 shares during the period. Marshall Wace LLP’s holdings in Biogen were worth $917,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in BIIB. Dillon & Associates Inc. increased its stake in Biogen by 0.3% in the first quarter. Dillon & Associates Inc. now owns 1,785 shares of the biotechnology company’s stock valued at $487,000 after buying an additional 5 shares in the last quarter. Beacon Trust Co. increased its stake in Biogen by 0.5% in the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in Biogen by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 6 shares in the last quarter. Trust Co. of Vermont increased its stake in Biogen by 0.3% in the first quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock valued at $660,000 after buying an additional 7 shares in the last quarter. Finally, Buckingham Capital Management Inc. increased its stake in Biogen by 0.3% in the first quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock valued at $670,000 after buying an additional 8 shares in the last quarter. 88.38% of the stock is currently owned by institutional investors.

Biogen Inc. (BIIB) traded up 2.14% during midday trading on Wednesday, reaching $294.08. 1,676,890 shares of the company’s stock traded hands. The stock has a market cap of $62.18 billion, a PE ratio of 19.30 and a beta of 0.79. The stock’s 50 day moving average price is $281.89 and its 200-day moving average price is $274.11. Biogen Inc. has a one year low of $244.28 and a one year high of $304.23.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (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 quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $5.21 EPS. Equities analysts predict that Biogen Inc. will post $21.44 earnings per share for the current year.

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Several research firms recently commented on BIIB. Morgan Stanley reiterated an “equal weight” rating and set a $307.00 target price on shares of Biogen in a research report on Wednesday, June 14th. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $262.00 to $270.00 in a research report on Monday, June 19th. Leerink Swann restated a “market perform” rating and issued a $338.00 price target (up previously from $304.00) on shares of Biogen in a research report on Wednesday, July 26th. Vetr downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 price target on the stock. in a research report on Wednesday, July 26th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price target on the stock in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $328.81.

In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the sale, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,816 shares of company stock valued at $3,931,380. Corporate insiders own 0.32% of the company’s stock.

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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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