BB&T Investment Services Inc. Takes Position in Biogen Inc. (BIIB)
BB&T Investment Services Inc. bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 874 shares of the biotechnology company’s stock, valued at approximately $237,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BIIB. Pathstone Family Office LLC purchased a new position in shares of Biogen during the 1st quarter valued at $102,000. Prentiss Smith & Co. Inc. lifted its stake in shares of Biogen by 14.9% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares in the last quarter. Independent Portfolio Consultants Inc. lifted its stake in shares of Biogen by 93.2% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares in the last quarter. Winfield Associates Inc. lifted its stake in shares of Biogen by 16.8% during the 1st quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its stake in shares of Biogen by 1.2% during the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 6 shares in the last quarter. Institutional investors own 87.65% of the company’s stock.
Shares of Biogen Inc. (NASDAQ:BIIB) traded up 0.08% during trading on Friday, reaching $333.58. 294,655 shares of the company’s stock were exchanged. The company has a 50 day moving average of $317.04 and a 200 day moving average of $282.89. The stock has a market cap of $70.53 billion, a P/E ratio of 21.89 and a beta of 0.77. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $335.39.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.21 EPS. Equities research analysts anticipate that Biogen Inc. will post $21.54 EPS for the current year.
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A number of research analysts recently weighed in on the stock. Stifel Nicolaus restated a “hold” rating and set a $300.00 target price on shares of Biogen in a research note on Thursday. Royal Bank Of Canada restated a “hold” rating and set a $315.00 target price on shares of Biogen in a research note on Thursday, October 5th. Morgan Stanley upgraded shares of Biogen from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $311.00 to $375.00 in a research note on Thursday, October 5th. Mizuho restated a “neutral” rating and set a $319.00 target price on shares of Biogen in a research note on Monday, October 2nd. Finally, Raymond James Financial, Inc. cut shares of Biogen from a “strong-buy” rating to a “market perform” rating and boosted their price target for the stock from $244.28 to $319.00 in a research note on Thursday, September 21st. Thirteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $331.49.
In other news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction that occurred 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 approximately $7,761,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were 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 in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
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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