LGT Capital Partners LTD. Raises Stake in Biogen Inc. (NASDAQ:BIIB)

LGT Capital Partners LTD. boosted its position in Biogen Inc. (NASDAQ:BIIB) by 29.3% during the second quarter, Holdings Channel reports. The institutional investor owned 152,155 shares of the biotechnology company’s stock after buying an additional 34,524 shares during the period. Biogen makes up about 4.1% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 2nd largest position. LGT Capital Partners LTD.’s holdings in Biogen were worth $41,289,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Pathstone Family Office LLC purchased a new stake in shares of Biogen during the first quarter worth about $102,000. Prentiss Smith & Co. Inc. boosted its stake in shares of Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares in the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Biogen during the first quarter worth about $106,000. Independent Portfolio Consultants Inc. boosted its stake in shares of Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares in the last quarter. Finally, Winfield Associates Inc. boosted its stake in shares of Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Shares of Biogen Inc. (BIIB) traded up 0.90% on Friday, reaching $283.68. 727,172 shares of the company’s stock traded hands. The stock has a market cap of $59.98 billion, a price-to-earnings ratio of 18.62 and a beta of 0.79. The firm’s 50-day moving average is $281.49 and its 200-day moving average is $273.98. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $329.83.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $5.21 earnings per share. Analysts anticipate that Biogen Inc. will post $21.44 EPS for the current fiscal year.

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A number of equities research analysts have recently issued reports on BIIB shares. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $301.89 price objective for the company. in a report on Tuesday, May 2nd. Piper Jaffray Companies set a $442.00 price target on Biogen and gave the company a “buy” rating in a research note on Monday, May 15th. Cowen and Company reiterated a “buy” rating and issued a $338.00 price target on shares of Biogen in a research note on Tuesday, April 25th. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG assumed coverage on Biogen in a research note on Friday, June 23rd. They issued a “buy” rating and a $315.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $329.74.

In related news, EVP Susan H. Alexander sold 4,974 shares of the company’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 owns 22,258 shares in the company, valued at $6,455,042.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders sold 13,816 shares of company stock valued at $3,931,380. Corporate insiders own 0.32% of the company’s stock.

Biogen Company Profile

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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