BB&T Securities LLC grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 25.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,989 shares of the biotechnology company’s stock after purchasing an additional 2,598 shares during the quarter. BB&T Securities LLC’s holdings in Biogen were worth $3,524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BIIB. BlackRock Inc. lifted its stake in Biogen by 2,762.0% in the 1st quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after purchasing an additional 17,074,075 shares in the last quarter. Janus Capital Management LLC lifted its stake in Biogen by 204.8% in the 1st quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after purchasing an additional 1,301,251 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Biogen by 2,288.0% in 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 purchasing an additional 1,295,540 shares in the last quarter. Winslow Capital Management LLC purchased a new position in Biogen in the 1st quarter worth approximately $345,143,000. Finally, Manning & Napier Advisors LLC lifted its stake in Biogen by 563.8% in the 2nd 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 in the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of Biogen Inc. (NASDAQ BIIB) opened at 321.01 on Tuesday. The stock’s 50 day moving average is $288.68 and its 200 day moving average is $276.07. The stock has a market capitalization of $67.87 billion, a PE ratio of 21.07 and a beta of 0.77. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $322.12.

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

In other news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the transaction, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of 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. Over the last 90 days, insiders sold 13,816 shares of company stock worth $3,931,380. Insiders own 0.32% of the company’s stock.

A number of research analysts have weighed in on BIIB shares. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $301.89 target price on the stock in a research note on Monday, May 8th. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Piper Jaffray Companies set a $442.00 target price on shares of Biogen and gave the stock a “buy” rating in a research note on Monday, May 15th. Credit Suisse Group set a $300.00 target price on shares of Biogen and gave the stock a “hold” rating in a research note on Friday, July 14th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $307.00 target price on shares of Biogen in a research note on Wednesday, June 14th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $328.70.

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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).

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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