Carnick & Kubik Group LLC boosted its position in Biogen Inc. (NASDAQ:BIIB) by 31.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,214 shares of the biotechnology company’s stock after buying an additional 1,252 shares during the period. Biogen makes up about 1.6% of Carnick & Kubik Group LLC’s portfolio, making the stock its 19th largest position. Carnick & Kubik Group LLC’s holdings in Biogen were worth $1,415,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Biogen by 9.0% in the first quarter. IFP Advisors Inc now owns 2,118 shares of the biotechnology company’s stock worth $579,000 after buying an additional 174 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Biogen by 2.8% in the first quarter. Russell Investments Group Ltd. now owns 240,097 shares of the biotechnology company’s stock worth $65,641,000 after buying an additional 6,608 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of Biogen by 100.0% in the first quarter. Nikko Asset Management Americas Inc. now owns 1,400 shares of the biotechnology company’s stock worth $383,000 after buying an additional 700 shares in the last quarter. Stonebridge Capital Management Inc. increased its position in shares of Biogen by 234.9% in the first quarter. Stonebridge Capital Management Inc. now owns 3,299 shares of the biotechnology company’s stock worth $902,000 after buying an additional 2,314 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Biogen by 3.2% in the first quarter. Janney Montgomery Scott LLC now owns 33,829 shares of the biotechnology company’s stock worth $9,250,000 after buying an additional 1,058 shares in the last quarter. Institutional investors own 87.25% of the company’s stock.

Shares of Biogen Inc. (NASDAQ BIIB) opened at 292.30 on Tuesday. The company has a 50 day moving average of $284.39 and a 200 day moving average of $274.87. The firm has a market capitalization of $61.80 billion, a PE ratio of 19.18 and a beta of 0.79. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $304.23.

Biogen (NASDAQ:BIIB) last announced its 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. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the firm earned $5.21 EPS. Biogen’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.

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A number of equities analysts have recently issued reports on BIIB shares. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price target for the company in a report on Tuesday, June 27th. Deutsche Bank AG started coverage on shares of Biogen in a report on Friday, June 23rd. They issued a “buy” rating and a $315.00 price target for the company. Credit Suisse Group set a $300.00 price target on shares of Biogen and gave the company a “hold” rating in a report on Friday, July 14th. Robert W. Baird reiterated a “hold” rating and issued a $290.00 price target on shares of Biogen in a report on Friday. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $277.00 price target on shares of Biogen in a report on Thursday, May 25th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $328.81.

In related news, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction that occurred 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 sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the sale, the director now directly owns 6,330 shares in the company, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. In the last three months, insiders sold 13,816 shares of company stock worth $3,931,380. 0.32% of the stock is owned by insiders.

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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