Associated Banc Corp lessened its holdings in Biogen Inc (NASDAQ:BIIB) by 1.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,434 shares of the biotechnology company’s stock after selling 205 shares during the quarter. Associated Banc Corp’s holdings in Biogen were worth $4,393,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Hugh Johnson Advisors LLC raised its holdings in shares of Biogen by 2.4% in the 2nd quarter. Hugh Johnson Advisors LLC now owns 6,092 shares of the biotechnology company’s stock valued at $1,768,000 after purchasing an additional 145 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Biogen by 2.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,332 shares of the biotechnology company’s stock valued at $1,548,000 after purchasing an additional 147 shares in the last quarter. Greatmark Investment Partners Inc. raised its holdings in shares of Biogen by 4.7% in the 2nd quarter. Greatmark Investment Partners Inc. now owns 3,475 shares of the biotechnology company’s stock valued at $1,009,000 after purchasing an additional 155 shares in the last quarter. Patton Albertson Miller Group LLC raised its holdings in shares of Biogen by 4.0% in the 2nd quarter. Patton Albertson Miller Group LLC now owns 4,453 shares of the biotechnology company’s stock valued at $1,292,000 after purchasing an additional 172 shares in the last quarter. Finally, 6 Meridian raised its holdings in shares of Biogen by 0.9% in the 2nd quarter. 6 Meridian now owns 19,503 shares of the biotechnology company’s stock valued at $5,661,000 after purchasing an additional 176 shares in the last quarter. 88.01% of the stock is owned by institutional investors.

In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Shares of Biogen stock opened at $319.08 on Wednesday. Biogen Inc has a 1 year low of $249.17 and a 1 year high of $388.67. The company has a current ratio of 2.75, a quick ratio of 2.46 and a debt-to-equity ratio of 0.43. The firm has a market cap of $65.52 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.78 by $0.62. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the firm posted $6.31 EPS. Biogen’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, research analysts forecast that Biogen Inc will post 25.79 EPS for the current year.

BIIB has been the topic of a number of analyst reports. BidaskClub upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 18th. Canaccord Genuity raised their price objective on shares of Biogen from $335.00 to $396.00 and gave the company a “buy” rating in a report on Monday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of Biogen from $400.00 to $445.00 and gave the company a “hold” rating in a report on Tuesday, July 24th. Mizuho reiterated a “buy” rating and set a $423.00 price target on shares of Biogen in a research note on Tuesday, July 24th. Finally, Cowen reiterated a “buy” rating and set a $408.00 price target on shares of Biogen in a research note on Tuesday, July 24th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $383.01.

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Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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