Manchester Capital Management LLC maintained its stake in Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,953 shares of the biotechnology company’s stock at the end of the 2nd quarter. Manchester Capital Management LLC’s holdings in Biogen were worth $530,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in BIIB. Pathstone Family Office LLC acquired a new stake in shares of Biogen during the first quarter worth $102,000. Prentiss Smith & Co. Inc. grew its stake in shares of Biogen by 14.9% during the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 50 shares during the period. Independent Portfolio Consultants Inc. grew its stake in shares of Biogen by 93.2% during the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 219 shares during the period. Winfield Associates Inc. grew its stake in shares of Biogen by 16.8% during the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 67 shares during the period. Finally, Carroll Financial Associates Inc. grew its stake in shares of Biogen by 1.2% during the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 6 shares during the period. 87.26% of the stock is owned by institutional investors and hedge funds.

BIIB has been the subject of a number of analyst reports. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price objective for the company in a research note on Tuesday, June 27th. Deutsche Bank AG started coverage on Biogen in a report on Friday, June 23rd. They set a “buy” rating and a $315.00 target price on the stock. Robert W. Baird reiterated a “hold” rating and set a $290.00 target price on shares of Biogen in a report on Friday, August 25th. Credit Suisse Group set a $300.00 target price on Biogen and gave the stock a “hold” rating in a report on Friday, July 14th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $277.00 target price on shares of Biogen in a report on Thursday, May 25th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $331.53.

Biogen Inc. (NASDAQ:BIIB) opened at 321.26 on Friday. The firm’s 50-day moving average price is $298.79 and its 200-day moving average price is $278.33. The firm 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 12 month low of $244.28 and a 12 month high of $330.00.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $2.81 billion. During the same quarter last year, the firm earned $5.21 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that Biogen Inc. will post $21.48 EPS for the current fiscal year.

In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the transaction, the executive vice president now owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction 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. 0.32% of the stock is owned by company insiders.

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Biogen 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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