NEXT Financial Group Inc raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 1,471 shares of the biotechnology company’s stock after buying an additional 50 shares during the period. NEXT Financial Group Inc’s holdings in Biogen were worth $399,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Pathstone Family Office LLC purchased a new stake in Biogen during the first quarter worth about $102,000. Prentiss Smith & Co. Inc. boosted 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 worth $104,000 after buying an additional 50 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in Biogen during the first quarter worth about $106,000. Independent Portfolio Consultants Inc. boosted 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 worth $123,000 after buying an additional 219 shares during the last quarter. Finally, Winfield Associates Inc. boosted its stake in 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 during the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.
Shares of Biogen Inc. (NASDAQ:BIIB) traded up 3.05% during trading on Wednesday, reaching $296.69. The company had a trading volume of 731,517 shares. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $304.23. The company has a market cap of $62.73 billion, a price-to-earnings ratio of 19.47 and a beta of 0.79. The firm has a 50 day moving average price of $281.89 and a 200 day moving average price of $274.11.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The firm 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 for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $5.21 earnings per share. Analysts predict that Biogen Inc. will post $21.44 earnings per share for the current year.
A number of analysts recently issued reports on the company. UBS AG reissued a “neutral” rating and set a $285.00 price objective (up previously from $270.00) on shares of Biogen in a research report on Wednesday, July 26th. Sanford C. Bernstein reissued an “outperform” rating on shares of Biogen in a research report on Thursday, May 25th. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price objective for the company. in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) raised Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective for the company in a research report on Wednesday. Finally, Deutsche Bank AG reissued a “buy” rating and set a $319.00 price objective (up previously from $315.00) on shares of Biogen in a research report on Wednesday, July 26th. Eleven 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 stock. The stock presently has an average rating of “Buy” and an average target price of $328.81.
In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the sale, the executive vice president now directly owns 27,232 shares in the company, valued at $7,761,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The disclosure for this sale can be found here. Insiders have sold 13,816 shares of company stock valued at $3,931,380 over the last 90 days. Company insiders own 0.32% of the company’s stock.
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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