NGAM Advisors L.P. increased its position in Biogen Inc. (NASDAQ:BIIB) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,577 shares of the biotechnology company’s stock after buying an additional 1,765 shares during the period. NGAM Advisors L.P.’s holdings in Biogen were worth $16,438,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after buying an additional 17,074,075 shares in the last quarter. Janus Capital Management LLC increased its position in shares of Biogen by 204.8% in the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after buying an additional 1,301,251 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after buying an additional 1,295,540 shares in the last quarter. Winslow Capital Management LLC bought a new position in shares of Biogen during the first quarter worth approximately $345,143,000. Finally, Manning & Napier Advisors LLC increased its position in shares of Biogen by 563.8% in the second quarter. Manning & Napier Advisors LLC now owns 814,369 shares of the biotechnology company’s stock worth $220,986,000 after buying an additional 691,694 shares in the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) opened at 281.77 on Friday. Biogen Inc. has a one year low of $244.28 and a one year high of $329.83. The stock has a market cap of $59.57 billion, a PE ratio of 18.49 and a beta of 0.79. The company’s 50 day moving average is $283.10 and its 200 day moving average is $274.37.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during 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 business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.21 EPS. On average, equities research analysts expect that Biogen Inc. will post $21.44 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This news story was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://stocknewstimes.com/2017/08/20/biogen-inc-biib-shares-bought-by-ngam-advisors-l-p.html.
BIIB has been the topic of a number of research analyst reports. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $301.89 target price on the stock in a research note on Monday, May 8th. Barclays PLC restated an “overweight” rating and issued a $360.00 target price (down from $380.00) on shares of Biogen in a research note on Sunday, April 23rd. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Stifel Nicolaus upped their target price on shares of Biogen from $265.00 to $280.00 and gave the stock a “hold” rating in a research note on Wednesday, April 26th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $310.00 target price on shares of Biogen in a research note on Tuesday, April 25th. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $328.81.
In other news, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value 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 approximately $6,455,042.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of 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. Insiders sold a total of 13,816 shares of company stock valued at $3,931,380 in the last quarter. 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).
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB).
Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
