Ameriprise Financial Inc. Sells 164,519 Shares of Biogen Inc. (BIIB)
Ameriprise Financial Inc. lessened its holdings in Biogen Inc. (NASDAQ:BIIB) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,709,010 shares of the biotechnology company’s stock after selling 164,519 shares during the period. Ameriprise Financial Inc. owned about 0.81% of Biogen worth $463,777,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. TIAA CREF Investment Management LLC lifted its stake in shares of Biogen by 28.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,906,820 shares of the biotechnology company’s stock worth $517,434,000 after purchasing an additional 426,821 shares during the period. Seven Eight Capital LP increased its holdings in Biogen by 226.7% in the 2nd quarter. Seven Eight Capital LP now owns 4,900 shares of the biotechnology company’s stock worth $1,330,000 after acquiring an additional 3,400 shares in the last quarter. Empirical Finance LLC increased its holdings in Biogen by 3.4% in the 2nd quarter. Empirical Finance LLC now owns 3,838 shares of the biotechnology company’s stock worth $1,042,000 after acquiring an additional 127 shares in the last quarter. Stephens Inc. AR increased its holdings in Biogen by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 18,740 shares of the biotechnology company’s stock worth $5,085,000 after acquiring an additional 133 shares in the last quarter. Finally, Symphony Asset Management LLC increased its holdings in Biogen by 91.3% in the 2nd quarter. Symphony Asset Management LLC now owns 11,045 shares of the biotechnology company’s stock worth $2,997,000 after acquiring an additional 5,271 shares in the last quarter. Hedge funds and other institutional investors own 87.65% of the company’s stock.
Shares of Biogen Inc. (NASDAQ:BIIB) opened at 318.46 on Friday. The stock’s 50 day moving average price is $300.47 and its 200 day moving average price is $278.47. The company has a market capitalization of $67.33 billion, a P/E ratio of 20.90 and a beta of 0.77. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $330.00.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. The business 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 revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.21 EPS. On average, equities research analysts forecast that Biogen Inc. will post $21.51 earnings per share for the current fiscal year.
Several research firms recently issued reports on BIIB. Raymond James Financial, Inc. lowered shares of Biogen from a “strong-buy” rating to a “market perform” rating and increased their target price for the stock from $244.28 to $319.00 in a report on Thursday. SunTrust Banks, Inc. began coverage on shares of Biogen in a report on Wednesday. They issued a “buy” rating and a $360.00 target price for the company. Royal Bank Of Canada began coverage on shares of Biogen in a report on Thursday, September 14th. They issued a “sector perform” rating and a $319.00 target price for the company. BMO Capital Markets increased their target price on shares of Biogen from $328.00 to $377.00 and gave the stock a “market perform” rating in a report on Wednesday, September 13th. Finally, Mizuho reissued a “neutral” rating and issued a $319.00 target price (up from $274.00) on shares of Biogen in a report on Wednesday, September 13th. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $328.16.
In related news, EVP Susan H. Alexander sold 4,974 shares of the 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 transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
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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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