Credit Agricole S A reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239,923 shares of the biotechnology company’s stock after selling 1,697 shares during the period. Credit Agricole S A owned 0.11% of Biogen worth $65,598,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. A.R.T. Advisors LLC increased its position in Biogen by 177.3% in the fourth quarter. A.R.T. Advisors LLC now owns 12,200 shares of the biotechnology company’s stock worth $3,459,000 after buying an additional 7,800 shares during the last quarter. Fred Alger Management Inc. increased its position in Biogen by 19.2% in the fourth quarter. Fred Alger Management Inc. now owns 536,029 shares of the biotechnology company’s stock worth $152,007,000 after buying an additional 86,307 shares during the last quarter. William Blair Investment Management LLC increased its position in Biogen by 1.0% in the fourth quarter. William Blair Investment Management LLC now owns 435,849 shares of the biotechnology company’s stock worth $123,598,000 after buying an additional 4,118 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of Biogen by 162.8% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 2,799 shares of the biotechnology company’s stock valued at $794,000 after buying an additional 1,734 shares in the last quarter. Finally, Fiera Capital Corp increased its position in shares of Biogen by 87.9% in the fourth quarter. Fiera Capital Corp now owns 7,787 shares of the biotechnology company’s stock valued at $2,208,000 after buying an additional 3,642 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Biogen Inc. (NASDAQ BIIB) traded down 0.66% on Thursday, hitting $286.09. The stock had a trading volume of 882,802 shares. The company’s 50 day moving average price is $276.09 and its 200-day moving average price is $273.47. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $304.23. The company has a market cap of $60.49 billion, a price-to-earnings ratio of 18.77 and a beta of 0.78.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the company earned $5.21 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Biogen Inc. will post $21.44 EPS for the current year.

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Several research firms have recently issued reports on BIIB. Vetr upgraded shares of Biogen from a “hold” rating to a “buy” rating and set a $319.53 price objective on the stock in a research report on Monday. Cowen and Company restated a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. BMO Capital Markets restated a “market perform” rating and issued a $328.00 price target (up previously from $317.00) on shares of Biogen in a research report on Wednesday, July 26th. UBS AG restated a “neutral” rating and issued a $285.00 price target (up previously from $270.00) on shares of Biogen in a research report on Wednesday, July 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $311.00 price objective (up previously from $301.00) on shares of Biogen in a research report on Wednesday, July 26th. Twelve analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $329.74.

In other Biogen news, Director Brian S. Posner sold 1,084 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total transaction of $277,840.04. Following the transaction, the director now owns 6,330 shares of the company’s stock, valued at approximately $1,622,442.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was 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 directly owns 22,258 shares in the company, valued at approximately $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 worth $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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