LGT Capital Partners LTD. increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,990 shares of the biotechnology company’s stock after buying an additional 760 shares during the period. Biogen accounts for about 3.7% of LGT Capital Partners LTD.’s holdings, making the stock its 2nd largest position. LGT Capital Partners LTD.’s holdings in Biogen were worth $26,604,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BIIB. Baystate Wealth Management LLC boosted its position in 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. Buckingham Asset Management LLC boosted its position in Biogen by 1.8% in the second quarter. Buckingham Asset Management LLC now owns 865 shares of the biotechnology company’s stock worth $209,000 after buying an additional 15 shares in the last quarter. Woodstock Corp boosted its position in 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. Choate Investment Advisors boosted its position in Biogen by 1.3% in the second quarter. Choate Investment Advisors now owns 1,473 shares of the biotechnology company’s stock worth $356,000 after buying an additional 19 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in Biogen by 0.8% in the second quarter. Wetherby Asset Management Inc. now owns 2,911 shares of the biotechnology company’s stock worth $704,000 after buying an additional 23 shares in the last quarter. 87.75% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Shares of Biogen Inc. (NASDAQ:BIIB) traded up 0.42% during midday trading on Monday, hitting $318.32. 1,331,116 shares of the stock were exchanged. Biogen Inc. has a 12-month low of $223.02 and a 12-month high of $333.65. The firm has a market cap of $69.26 billion, a PE ratio of 18.00 and a beta of 0.75. The firm has a 50-day moving average price of $300.15 and a 200 day moving average price of $286.48.

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

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

In other Biogen news, EVP Adriana Karaboutis sold 380 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $313.00, for a total transaction of $118,940.00. Following the sale, the executive vice president now directly owns 7,172 shares in the company, valued at approximately $2,244,836. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the sale, the director now owns 19,663 shares in the company, valued at $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

About Biogen

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.

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