Wells Fargo & Company MN boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,188,575 shares of the biotechnology company’s stock after buying an additional 43,079 shares during the period. Wells Fargo & Company MN owned about 0.56% of Biogen worth $322,532,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CIBC World Markets Inc. raised its holdings in Biogen by 348.3% during the 2nd quarter. CIBC World Markets Inc. now owns 46,600 shares of the biotechnology company’s stock worth $12,645,000 after buying an additional 36,206 shares during the period. Commonwealth Bank of Australia raised its holdings in Biogen by 41.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 19,576 shares of the biotechnology company’s stock worth $5,311,000 after buying an additional 5,758 shares during the period. Schroder Investment Management Group raised its holdings in Biogen by 38.5% during the 2nd quarter. Schroder Investment Management Group now owns 305,970 shares of the biotechnology company’s stock worth $83,187,000 after buying an additional 84,981 shares during the period. Bienville Capital Management LLC raised its holdings in Biogen by 2.2% during the 2nd quarter. Bienville Capital Management LLC now owns 880 shares of the biotechnology company’s stock worth $239,000 after buying an additional 19 shares during the period. Finally, Provident Investment Management Inc. raised its holdings in Biogen by 1.6% during the 2nd quarter. Provident Investment Management Inc. now owns 66,356 shares of the biotechnology company’s stock worth $18,006,000 after buying an additional 1,044 shares during the period. Hedge funds and other institutional investors own 87.65% of the company’s stock.

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In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction 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 directly 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction 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 transaction, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at $7,761,120. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Shares of Biogen Inc. (NASDAQ BIIB) opened at 318.18 on Tuesday. The firm has a 50-day moving average price of $299.66 and a 200-day moving average price of $278.33. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $330.00. The company has a market capitalization of $67.27 billion, a PE ratio of 20.88 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.21 EPS. On average, equities research analysts predict that Biogen Inc. will post $21.50 EPS for the current year.

Several research firms have issued reports on BIIB. BMO Capital Markets boosted their price objective on Biogen from $328.00 to $377.00 and gave the stock a “market perform” rating in a report on Wednesday, September 13th. Mizuho reaffirmed a “neutral” rating and set a $319.00 target price (up previously from $274.00) on shares of Biogen in a research note on Wednesday, September 13th. Vetr raised Biogen from a “hold” rating to a “buy” rating and set a $346.83 target price on the stock in a research note on Thursday, September 7th. Royal Bank Of Canada assumed coverage on Biogen in a research note on Thursday, September 14th. They set a “sector perform” rating and a $319.00 target price on the stock. Finally, ValuEngine cut Biogen from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Biogen currently has an average rating of “Buy” and a consensus target price of $331.53.

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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