Maple Capital Management Inc. held its position in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 869 shares of the biotechnology company’s stock at the end of the second quarter. Maple Capital Management Inc.’s holdings in Biogen were worth $236,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Chevy Chase Trust Holdings Inc. raised its position in shares of Biogen by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 201,496 shares of the biotechnology company’s stock valued at $55,093,000 after buying an additional 4,354 shares in the last quarter. Moreno Evelyn V raised its position in Biogen by 14.2% in the first quarter. Moreno Evelyn V now owns 20,470 shares of the biotechnology company’s stock valued at $5,596,000 after buying an additional 2,550 shares during the period. Rosenbaum Jay D. raised its position in Biogen by 19.2% in the first quarter. Rosenbaum Jay D. now owns 1,704 shares of the biotechnology company’s stock valued at $466,000 after buying an additional 275 shares during the period. Cohen Lawrence B raised its position in Biogen by 5.7% in the first quarter. Cohen Lawrence B now owns 8,590 shares of the biotechnology company’s stock valued at $2,349,000 after buying an additional 465 shares during the period. Finally, Renaissance Investment Group LLC acquired a new position in Biogen during the first quarter valued at approximately $257,000. 88.70% of the stock is owned by institutional investors.
Shares of Biogen Inc. (NASDAQ BIIB) opened at 283.68 on Friday. The company 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 one year low of $244.28 and a one year high of $329.83.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $5.21 EPS. Analysts expect 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. Robert W. Baird reiterated a “neutral” rating and issued a $290.00 price objective on shares of Biogen in a research report on Tuesday, April 18th. Mizuho reiterated a “hold” rating and issued a $290.00 price objective on shares of Biogen in a research report on Tuesday, April 18th. Barclays PLC restated an “overweight” rating and set a $360.00 price target (down from $380.00) on shares of Biogen in a research report on Sunday, April 23rd. Sanford C. Bernstein restated an “outperform” rating and set a $310.00 price target on shares of Biogen in a research report on Tuesday, April 25th. Finally, Cantor Fitzgerald set a $278.00 price target on shares of Biogen and gave the stock a “hold” rating in a research report on Tuesday, April 25th. Eleven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and an average target price of $329.74.
In other news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brian S. Posner sold 1,084 shares of Biogen 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 13,816 shares of company stock worth $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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