Boyer & Corporon Wealth Management LLC continued to hold its stake in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 782 shares of the biotechnology company’s stock at the close of the second quarter. Boyer & Corporon Wealth Management LLC’s holdings in Biogen were worth $212,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Biogen by 2,762.0% in the 1st quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock valued at $4,837,418,000 after buying an additional 17,074,075 shares during the period. Janus Capital Management LLC raised its holdings 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 valued at $529,524,000 after buying an additional 1,301,251 shares during the period. Massachusetts Financial Services Co. MA raised its holdings 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 valued at $369,709,000 after buying an additional 1,295,540 shares during the period. Winslow Capital Management LLC purchased a new stake in Biogen in the 1st quarter valued at about $345,143,000. Finally, Manning & Napier Advisors LLC raised its holdings in Biogen by 563.8% in the 2nd quarter. Manning & Napier Advisors LLC now owns 814,369 shares of the biotechnology company’s stock valued at $220,986,000 after buying an additional 691,694 shares during the period. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Biogen Inc. (BIIB) opened at 321.26 on Friday. The firm has a market capitalization of $67.92 billion, a P/E ratio of 21.08 and a beta of 0.77. Biogen Inc. has a 12-month low of $244.28 and a 12-month 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 issued its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping the consensus estimate of $4.36 by $0.68. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.21 EPS. Equities analysts anticipate that Biogen Inc. will post $21.48 earnings per share for the current fiscal year.

In other news, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Several brokerages recently issued reports on BIIB. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $262.00 to $270.00 in a report on Monday, June 19th. Mizuho restated a “neutral” rating and issued a $319.00 price objective (up from $274.00) on shares of Biogen in a report on Wednesday. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price objective on the stock in a report on Thursday, August 10th. Royal Bank Of Canada began coverage on shares of Biogen in a report on Thursday. They issued a “sector perform” rating and a $319.00 price objective on the stock. Finally, Cowen and Company restated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Thirteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Biogen currently has a consensus rating of “Buy” and an average target price of $331.53.

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).

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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