QS Investors LLC decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,165 shares of the biotechnology company’s stock after selling 301 shares during the quarter. QS Investors LLC’s holdings in Biogen were worth $14,427,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Risk Paradigm Group LLC boosted its holdings in shares of Biogen by 8.9% in the second quarter. Risk Paradigm Group LLC now owns 710 shares of the biotechnology company’s stock valued at $193,000 after acquiring an additional 58 shares during the period. GMT Capital Corp grew its position in shares of Biogen by 14.3% during the second quarter. GMT Capital Corp now owns 252,200 shares of the biotechnology company’s stock worth $69,085,000 after acquiring an additional 31,600 shares during the last quarter. Stifel Financial Corp grew its position in shares of Biogen by 30.9% during the second quarter. Stifel Financial Corp now owns 148,278 shares of the biotechnology company’s stock worth $40,169,000 after acquiring an additional 34,992 shares during the last quarter. Bamco Inc. NY grew its position in shares of Biogen by 95.2% during the second quarter. Bamco Inc. NY now owns 12,935 shares of the biotechnology company’s stock worth $3,510,000 after acquiring an additional 6,310 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board grew its position in shares of Biogen by 82.1% during the second quarter. Ontario Teachers Pension Plan Board now owns 9,648 shares of the biotechnology company’s stock worth $2,618,000 after acquiring an additional 4,350 shares during the last quarter. 87.65% of the stock is currently owned by institutional investors.

Shares of Biogen Inc. (BIIB) opened at 316.17 on Tuesday. The firm has a market cap of $66.85 billion, a price-to-earnings ratio of 20.75 and a beta of 0.77. The company’s 50 day moving average price is $307.67 and its 200-day moving average price is $280.04. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $330.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The company had revenue of $3.08 billion for 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 firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.21 earnings per share. Equities analysts expect that Biogen Inc. will post $21.51 EPS for the current fiscal year.

In other news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the company’s 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 sale, 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. Company insiders own 0.25% of the company’s stock.

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A number of brokerages have recently commented on BIIB. Morgan Stanley reaffirmed an “equal weight” rating and issued a $307.00 target price on shares of Biogen in a report on Wednesday, June 14th. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and increased their price target for the stock from $262.00 to $270.00 in a research note on Monday, June 19th. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price target for the company. in a research note on Wednesday, June 21st. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, BidaskClub raised shares of Biogen from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Fourteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $328.16.

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).

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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