Tudor Investment Corp ET AL Sells 6,063 Shares of Biogen Inc. (NASDAQ:BIIB)

Tudor Investment Corp ET AL lowered its position in Biogen Inc. (NASDAQ:BIIB) by 77.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,752 shares of the biotechnology company’s stock after selling 6,063 shares during the period. Tudor Investment Corp ET AL’s holdings in Biogen were worth $479,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Raymond James Trust N.A. increased its stake in shares of Biogen by 9.5% in the first quarter. Raymond James Trust N.A. now owns 4,896 shares of the biotechnology company’s stock valued at $1,338,000 after buying an additional 424 shares during the period. Hills Bank & Trust Co. increased its stake in shares of Biogen by 3.1% in the first quarter. Hills Bank & Trust Co. now owns 4,707 shares of the biotechnology company’s stock valued at $1,287,000 after buying an additional 143 shares during the period. Boltwood Capital Management increased its stake in shares of Biogen by 18.3% in the first quarter. Boltwood Capital Management now owns 2,460 shares of the biotechnology company’s stock valued at $672,000 after buying an additional 380 shares during the period. West Oak Capital LLC increased its stake in shares of Biogen by 5.9% in the first quarter. West Oak Capital LLC now owns 4,558 shares of the biotechnology company’s stock valued at $1,246,000 after buying an additional 252 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Biogen during the first quarter valued at about $33,540,000. 88.38% of the stock is owned by hedge funds and other institutional investors.

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 $304.23. The firm has a market capitalization of $59.57 billion, a price-to-earnings ratio of 18.49 and a beta of 0.79. The stock’s 50 day moving average price is $283.10 and its 200-day moving average price is $274.37.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. The company 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 revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.21 earnings per share. On average, equities research analysts anticipate that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.

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BIIB has been the subject of several recent research reports. Piper Jaffray Companies set a $442.00 price objective on shares of Biogen and gave the company a “buy” rating in a research report on Monday, May 15th. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 price objective for the company. in a research report on Tuesday, April 25th. Cowen and Company reaffirmed a “buy” rating and issued a $338.00 price objective on shares of Biogen in a research report on Tuesday, April 25th. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Deutsche Bank AG initiated coverage on shares of Biogen in a research report on Friday, June 23rd. They issued a “buy” rating and a $315.00 price objective for the company. Eleven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $328.81.

In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction 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 directly owns 27,232 shares in the company, valued at approximately $7,761,120. The disclosure for this sale can be found here. In the last three months, insiders sold 13,816 shares of company stock worth $3,931,380. Insiders own 0.32% of the company’s stock.

About Biogen

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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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