Exxonmobil Investment Management Inc. TX decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 55,949 shares of the biotechnology company’s stock after selling 752 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Biogen were worth $17,514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Catawba Capital Management VA purchased a new position in shares of Biogen during the third quarter worth approximately $216,000. Woodstock Corp boosted its position in shares of Biogen by 0.6% in the third quarter. Woodstock Corp now owns 2,547 shares of the biotechnology company’s stock worth $797,000 after buying an additional 15 shares in the last quarter. Baystate Wealth Management LLC boosted its position in shares of Biogen by 0.5% in the third quarter. Baystate Wealth Management LLC now owns 1,019 shares of the biotechnology company’s stock worth $319,000 after buying an additional 5 shares in the last quarter. North Star Asset Management Inc. purchased a new position in shares of Biogen during the third quarter worth approximately $207,000. Finally, Boltwood Capital Management boosted its position in shares of Biogen by 2.7% in the third quarter. Boltwood Capital Management now owns 2,100 shares of the biotechnology company’s stock worth $657,000 after buying an additional 55 shares in the last quarter. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Shares of Biogen Inc. (NASDAQ:BIIB) traded up 0.42% on Monday, reaching $318.32. The company’s stock had a trading volume of 1,331,116 shares. The firm has a 50-day moving average price of $300.15 and a 200 day moving average price of $286.48. Biogen Inc. has a one year low of $223.02 and a one year high of $333.65. The firm has a market capitalization of $69.26 billion, a PE ratio of 18.00 and a beta of 0.75.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.22. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Biogen had a return on equity of 40.02% and a net margin of 34.03%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.48 earnings per share. On average, analysts anticipate that Biogen Inc. will post $20.22 earnings per share for the current fiscal year.

A number of research analysts have recently commented on the company. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $316.41 price target on the stock. in a research report on Monday, November 7th. Mizuho initiated coverage on Biogen in a report on Monday, November 7th. They set a “neutral” rating and a $290.00 price objective on the stock. Leerink Swann raised Biogen from a “market perform” rating to an “outperform” rating in a report on Monday, November 7th. Piper Jaffray Cos. raised Biogen from a “neutral” rating to an “overweight” rating and set a $335.00 price objective on the stock in a report on Monday, November 7th. They noted that the move was a valuation call. Finally, HC Wainwright reissued a “buy” rating on shares of Biogen in a report on Thursday, October 27th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Biogen presently has a consensus rating of “Buy” and a consensus target price of $339.66.

In other news, EVP Adriana Karaboutis sold 262 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $311.94, for a total transaction of $81,728.28. Following the transaction, the executive vice president now owns 7,579 shares of the company’s stock, valued at $2,364,193.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Caroline Dorsa sold 27,570 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total value of $8,656,980.00. Following the transaction, the director now directly owns 19,663 shares in the company, valued at approximately $6,174,182. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Biogen Company Profile

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

5 Day Chart for NASDAQ:BIIB

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