United Bank VA maintained its position in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,291 shares of the biotechnology company’s stock at the close of the second quarter. United Bank VA’s holdings in Biogen were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BIIB. Waldron LP boosted its stake in Biogen by 17.0% during the 1st quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock valued at $826,000 after purchasing an additional 439 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in shares of Biogen by 74.7% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 43,643 shares of the biotechnology company’s stock worth $11,933,000 after buying an additional 18,660 shares in the last quarter. Brown Capital Management LLC lifted its position in shares of Biogen by 14.7% during the 1st quarter. Brown Capital Management LLC now owns 2,523 shares of the biotechnology company’s stock worth $690,000 after buying an additional 324 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Biogen by 98.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 26,022 shares of the biotechnology company’s stock worth $7,115,000 after buying an additional 12,932 shares in the last quarter. Finally, South State Corp bought a new position in shares of Biogen during the 1st quarter worth approximately $403,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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Biogen Inc. (NASDAQ:BIIB) traded down 1.19% on Monday, hitting $333.63. 612,374 shares of the stock were exchanged. The company has a 50-day moving average of $319.52 and a 200 day moving average of $283.51. The firm has a market cap of $70.54 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 $344.37.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The firm 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 company’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $5.21 EPS. Equities research analysts expect that Biogen Inc. will post $21.54 earnings per share for the current fiscal year.

BIIB has been the topic of several recent analyst reports. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price on the stock. in a research report on Tuesday, August 29th. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Cowen and Company reissued an “outperform” rating and set a $271.00 target price on shares of Biogen in a research report on Monday, July 3rd. Royal Bank Of Canada reissued a “hold” rating and set a $315.00 target price on shares of Biogen in a research report on Thursday, October 5th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $310.00 target price on shares of Biogen in a research report on Tuesday, July 11th. Thirteen analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently 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 firm’s stock in a transaction 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 sale, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction 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 sale, the executive vice president now 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 owned by company insiders.

About Biogen

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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