Biogen Inc. (BIIB) Stake Lifted by FineMark National Bank & Trust

FineMark National Bank & Trust increased its stake in Biogen Inc. (NASDAQ:BIIB) by 26.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,924 shares of the biotechnology company’s stock after acquiring an additional 830 shares during the period. FineMark National Bank & Trust’s holdings in Biogen were worth $1,229,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Sphera Funds Management LTD. acquired a new stake in Biogen during the first quarter valued at approximately $20,507,000. Comerica Securities Inc. purchased a new stake in shares of Biogen in the 1st quarter valued at approximately $281,000. Cadence Capital Management LLC lifted its position in shares of Biogen by 8.1% in the 1st quarter. Cadence Capital Management LLC now owns 11,736 shares of the biotechnology company’s stock valued at $3,209,000 after acquiring an additional 883 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Biogen by 11.1% in the 1st quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock valued at $803,122,000 after acquiring an additional 294,308 shares in the last quarter. Finally, AXA lifted its position in shares of Biogen by 3.4% in the 1st quarter. AXA now owns 461,283 shares of the biotechnology company’s stock valued at $126,124,000 after acquiring an additional 15,241 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

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

BIIB has been the subject of a number of research analyst reports. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price for the company. in a research report on Tuesday, August 29th. Cantor Fitzgerald restated a “hold” rating and set a $279.00 price target on shares of Biogen in a research note on Tuesday, October 24th. Royal Bank Of Canada restated a “hold” rating and set a $315.00 price target on shares of Biogen in a research note on Thursday, October 5th. Canaccord Genuity initiated coverage on shares of Biogen in a research note on Friday, October 27th. They set a “hold” rating and a $340.00 price target on the stock. Finally, Jefferies Group LLC restated a “hold” rating and set a $310.00 price target on shares of Biogen in a research note on Tuesday, July 11th. Twelve analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $341.25.

Biogen 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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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