Seizert Capital Partners LLC trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,076 shares of the biotechnology company’s stock after selling 2,115 shares during the period. Seizert Capital Partners LLC’s holdings in Biogen were worth $28,513,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in Biogen by 2,762.0% in the first 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 during the period. Vanguard Group Inc. grew its stake in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after purchasing an additional 342,568 shares during the period. State Street Corp grew its stake in Biogen by 2.3% in the first quarter. State Street Corp now owns 9,580,383 shares of the biotechnology company’s stock worth $2,619,469,000 after purchasing an additional 219,502 shares during the period. Clearbridge Investments LLC grew its stake in Biogen by 4.0% in the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock worth $2,493,871,000 after purchasing an additional 351,224 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Biogen by 11.1% in the first quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock worth $803,122,000 after purchasing an additional 294,308 shares during the period. 87.26% of the stock is currently owned by institutional investors.

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Several equities research analysts recently weighed in on BIIB shares. Deutsche Bank AG started coverage on Biogen in a research note on Friday, June 23rd. They issued a “buy” rating and a $315.00 price target on the stock. ValuEngine raised Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 target price on the stock. in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) raised Biogen from a “neutral” rating to a “buy” rating and increased their target price for the stock from $228.00 to $338.00 in a research note on Wednesday, July 26th. Finally, Cowen and Company reissued a “buy” rating on shares of Biogen in a research note on Thursday, July 27th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $331.53.

In related news, EVP Susan H. Alexander sold 4,974 shares of the 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 completion of the sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Biogen Inc. (BIIB) opened at 321.26 on Friday. The company has a market cap of $67.92 billion, a P/E ratio of 21.08 and a beta of 0.77. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $330.00. The stock has a 50 day moving average price of $298.79 and a 200 day moving average price of $278.33.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the 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 firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the firm earned $5.21 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Biogen Inc. will post $21.48 EPS for the current fiscal year.

About Biogen

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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