Biogen Inc. (BIIB) Shares Sold by Reliance Trust Co. of Delaware

Reliance Trust Co. of Delaware cut its position in shares of Biogen Inc. (NASDAQ:BIIB) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,680 shares of the biotechnology company’s stock after selling 32 shares during the period. Reliance Trust Co. of Delaware’s holdings in Biogen were worth $3,441,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Pathstone Family Office LLC acquired a new stake in Biogen during the first quarter valued at approximately $102,000. Prentiss Smith & Co. Inc. increased its stake in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in Biogen during the first quarter valued at approximately $106,000. Independent Portfolio Consultants Inc. increased its stake in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares in the last quarter. Finally, Winfield Associates Inc. increased its stake in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.

Shares of Biogen Inc. (NASDAQ BIIB) opened at 281.77 on Friday. The stock has a market capitalization of $59.57 billion, a P/E ratio of 18.49 and a beta of 0.79. 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 is $283.10 and its 200 day moving average is $274.37.

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

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BIIB has been the topic of several recent research reports. Barclays PLC reiterated an “overweight” rating and set a $360.00 target price (down from $380.00) on shares of Biogen in a research report on Sunday, April 23rd. Sanford C. Bernstein reiterated an “outperform” rating and set a $310.00 target price on shares of Biogen in a research report on Tuesday, April 25th. Cantor Fitzgerald set a $278.00 price target on shares of Biogen and gave the stock a “hold” rating in a report on Tuesday, April 25th. Cowen and Company restated a “buy” rating and set a $338.00 price target on shares of Biogen in a report on Tuesday, April 25th. Finally, Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 price target for the company. in a report on Tuesday, April 25th. Eleven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and a consensus target price of $328.81.

In related news, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the sale, the executive vice president now owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction that occurred 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 sale, the director now directly owns 6,330 shares in the company, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. Insiders have sold a total of 13,816 shares of company stock worth $3,931,380 in the last three months. 0.32% of the stock is owned by corporate insiders.

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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