New Jersey Better Educational Savings Trust Sells 800 Shares of Biogen Inc. (BIIB)

New Jersey Better Educational Savings Trust lowered its position in Biogen Inc. (NASDAQ:BIIB) by 26.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,200 shares of the biotechnology company’s stock after selling 800 shares during the quarter. New Jersey Better Educational Savings Trust’s holdings in Biogen were worth $689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Biogen by 2.3% in the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock valued at $4,913,612,000 after buying an additional 415,099 shares during the period. Vanguard Group Inc. increased its stake in shares of Biogen by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock valued at $3,944,171,000 after buying an additional 182,337 shares during the period. State Street Corp increased its stake in shares of Biogen by 1.5% in the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock valued at $2,637,973,000 after buying an additional 140,929 shares during the period. Clearbridge Investments LLC increased its stake in shares of Biogen by 4.0% in the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock valued at $2,493,871,000 after buying an additional 351,224 shares during the period. Finally, FMR LLC increased its stake in shares of Biogen by 10.1% in the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock valued at $1,656,390,000 after buying an additional 561,436 shares during the period. 87.47% of the stock is owned by institutional investors.

Biogen Inc. (NASDAQ:BIIB) opened at 307.74 on Friday. The firm’s 50-day moving average price is $323.86 and its 200 day moving average price is $287.40. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $348.84. The company has a market capitalization of $65.07 billion, a PE ratio of 20.19 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the company posted $5.19 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts expect that Biogen Inc. will post $22.10 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on the company. UBS AG reaffirmed a “neutral” rating and issued a $285.00 price objective (up previously from $270.00) on shares of Biogen in a research note on Wednesday, July 26th. 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 note on Wednesday, August 16th. Vetr downgraded Biogen from a “buy” rating to a “hold” rating and set a $316.82 price objective for the company. in a research note on Monday, September 4th. Morgan Stanley raised Biogen from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $311.00 to $375.00 in a research note on Thursday, October 5th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $319.00 price objective (up previously from $315.00) on shares of Biogen in a research note on Wednesday, July 26th. Twelve equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Biogen currently has a consensus rating of “Buy” and an average price target of $341.25.

WARNING: This story was published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.com-unik.info/2017/10/29/new-jersey-better-educational-savings-trust-sells-800-shares-of-biogen-inc-biib.html.

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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

What are top analysts saying about Biogen Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Biogen Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit