GAM Holding AG grew its position in shares of Biogen Inc. (NASDAQ:BIIB) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,782 shares of the biotechnology company’s stock after acquiring an additional 288 shares during the quarter. GAM Holding AG’s holdings in Biogen were worth $20,564,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in BIIB. BlackRock Inc. boosted its holdings in shares of Biogen by 2,762.0% in the 1st quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock valued at $4,837,418,000 after buying an additional 17,074,075 shares during the last quarter. Janus Capital Management LLC increased its position in Biogen by 204.8% during the 1st quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after buying an additional 1,301,251 shares during the period. Massachusetts Financial Services Co. MA increased its position in Biogen by 2,288.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after buying an additional 1,295,540 shares during the period. Winslow Capital Management LLC bought a new position in Biogen during the 1st quarter worth $345,143,000. Finally, Manning & Napier Advisors LLC increased its position in shares of Biogen by 563.8% in the second quarter. Manning & Napier Advisors LLC now owns 814,369 shares of the biotechnology company’s stock worth $220,986,000 after purchasing an additional 691,694 shares during the period. 87.26% of the stock is owned by hedge funds and other institutional investors.
In related 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 transaction of $2,211,030.00. Following the transaction, the executive vice president now directly owns 27,232 shares in the company, valued at $7,761,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.
Shares of Biogen Inc. (NASDAQ BIIB) opened at 323.64 on Friday. The company has a market capitalization of $68.43 billion, a price-to-earnings ratio of 21.24 and a beta of 0.77. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $330.00. The company’s 50 day moving average price is $297.83 and its 200-day moving average price is $278.11.
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, topping the Zacks’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for 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 company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the business posted $5.21 EPS. On average, equities analysts forecast that Biogen Inc. will post $21.48 earnings per share for the current year.
Several research firms recently weighed in on BIIB. Mizuho reaffirmed a “neutral” rating and issued a $319.00 price objective (up from $274.00) on shares of Biogen in a research note on Wednesday. BMO Capital Markets lifted their price objective on Biogen from $328.00 to $377.00 and gave the stock a “market perform” rating in a research note on Wednesday. Vetr upgraded Biogen from a “hold” rating to a “buy” rating and set a $346.83 target price for the company in a report on Thursday, September 7th. Royal Bank Of Canada assumed coverage on Biogen in a report on Thursday. They set a “sector perform” rating and a $319.00 price objective for the company. Finally, ValuEngine downgraded Biogen from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Thirteen investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Biogen currently has a consensus rating of “Buy” and a consensus target price of $331.53.
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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