Plancorp LLC Continues to Hold Stake in Biogen Inc. (BIIB)

Plancorp LLC maintained its position in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,765 shares of the biotechnology company’s stock at the end of the first quarter. Plancorp LLC’s holdings in Biogen were worth $756,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares during the period. Alliancebernstein L.P. boosted its stake in Biogen by 11.1% in the first quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock valued at $803,122,000 after buying an additional 294,308 shares during the last quarter. Geode Capital Management LLC boosted its stake in Biogen by 6.7% in the first quarter. Geode Capital Management LLC now owns 2,372,175 shares of the biotechnology company’s stock valued at $647,777,000 after buying an additional 149,832 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Biogen by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 2,038,169 shares of the biotechnology company’s stock valued at $557,275,000 after buying an additional 17,313 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Biogen by 7.2% in the first quarter. TIAA CREF Investment Management LLC now owns 1,479,999 shares of the biotechnology company’s stock valued at $404,661,000 after buying an additional 98,956 shares during the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Inc. (NASDAQ BIIB) traded down 0.69% on Wednesday, hitting $289.15. The stock had a trading volume of 875,771 shares. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $329.83. The firm’s 50 day moving average price is $276.09 and its 200-day moving average price is $273.47. The stock has a market cap of $61.14 billion, a PE ratio of 18.97 and a beta of 0.78.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.21 earnings per share. On average, analysts forecast that Biogen Inc. will post $21.33 EPS for the current year.

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Several research firms have weighed in on BIIB. UBS AG upgraded Biogen from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $262.00 to $270.00 in a report on Monday, June 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $311.00 price objective (up previously from $301.00) on shares of Biogen in a report on Wednesday, July 26th. BMO Capital Markets restated a “market perform” rating and issued a $328.00 target price (up previously from $317.00) on shares of Biogen in a research note on Wednesday, July 26th. Vetr cut Biogen from a “buy” rating to a “hold” rating and set a $298.30 target price for the company. in a research note on Wednesday, July 26th. Finally, Leerink Swann restated a “market perform” rating and issued a $338.00 target price (up previously from $304.00) on shares of Biogen in a research note on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $329.74.

In other news, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the transaction, the director now owns 6,330 shares of the company’s stock, valued at approximately $1,622,442.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 completion of the transaction, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. Insiders have sold 13,816 shares of company stock worth $3,931,380 in the last three months. Insiders own 0.32% of the company’s stock.

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).