Exxonmobil Investment Management Inc. TX cut its stake in Biogen Inc (NASDAQ:BIIB) by 12.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,619 shares of the biotechnology company’s stock after selling 4,992 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Biogen were worth $10,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Biogen by 2.3% in the 2nd quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after acquiring an additional 415,099 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Biogen by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after acquiring an additional 182,337 shares during the last quarter. State Street Corp increased its stake in shares of Biogen by 1.5% in the 2nd quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after acquiring an additional 140,929 shares during the last quarter. FMR LLC increased its stake in shares of Biogen by 10.1% in the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after acquiring an additional 561,436 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Biogen by 8.0% in the 2nd quarter. Northern Trust Corp now owns 3,017,136 shares of the biotechnology company’s stock worth $818,731,000 after acquiring an additional 223,371 shares during the last quarter. 88.11% of the stock is owned by institutional investors and hedge funds.

Shares of Biogen Inc (BIIB) traded up $6.23 during trading on Tuesday, reaching $335.88. The company had a trading volume of 527,309 shares, compared to its average volume of 1,287,240. Biogen Inc has a 12 month low of $244.28 and a 12 month high of $348.84. The stock has a market cap of $70,950.00, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.97 and a beta of 0.73. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the business posted $5.19 EPS. Biogen’s revenue for the quarter was up 4.1% on a year-over-year basis. equities research analysts anticipate that Biogen Inc will post 22 EPS for the current year.

BIIB has been the subject of a number of research analyst reports. SunTrust Banks initiated coverage on Biogen in a report on Wednesday, September 20th. They set a “buy” rating and a $360.00 price target for the company. Bank of America increased their price target on Biogen from $358.00 to $365.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Morgan Stanley reiterated a “buy” rating on shares of Biogen in a report on Tuesday, October 17th. Mizuho upgraded Biogen from a “neutral” rating to a “buy” rating and increased their price target for the stock from $319.00 to $400.00 in a report on Tuesday, October 17th. Finally, Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and increased their price target for the stock from $300.00 to $415.00 in a report on Tuesday, October 17th. Ten analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $350.13.

In related news, Director Alexander J. Denner acquired 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michel Vounatsos acquired 780 shares of the firm’s stock in a transaction dated Saturday, December 29th. The stock was bought at an average price of $320.55 per share, with a total value of $250,029.00. Following the purchase, the chief executive officer now directly owns 4,879 shares in the company, valued at approximately $1,563,963.45. The disclosure for this purchase can be found here. Insiders have purchased a total of 31,560 shares of company stock valued at $10,020,858 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

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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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