Fernwood Investment Management LLC Has $1.82 Million Stock Position in Biogen Inc (NASDAQ:BIIB)

Fernwood Investment Management LLC decreased its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 13.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,785 shares of the biotechnology company’s stock after selling 1,175 shares during the period. Fernwood Investment Management LLC’s holdings in Biogen were worth $1,821,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dillon & Associates Inc. lifted its holdings in shares of Biogen by 1.6% during the 1st quarter. Dillon & Associates Inc. now owns 2,866 shares of the biotechnology company’s stock worth $676,000 after acquiring an additional 45 shares during the period. First National Bank of Omaha lifted its holdings in shares of Biogen by 0.3% during the 2nd quarter. First National Bank of Omaha now owns 16,632 shares of the biotechnology company’s stock worth $3,889,000 after acquiring an additional 45 shares during the period. Fulton Bank N.A. lifted its holdings in shares of Biogen by 4.1% during the 2nd quarter. Fulton Bank N.A. now owns 1,199 shares of the biotechnology company’s stock worth $281,000 after acquiring an additional 47 shares during the period. Sigma Investment Counselors Inc. lifted its holdings in shares of Biogen by 4.9% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 1,023 shares of the biotechnology company’s stock worth $239,000 after acquiring an additional 48 shares during the period. Finally, BancorpSouth Bank lifted its holdings in shares of Biogen by 2.1% during the 2nd quarter. BancorpSouth Bank now owns 2,488 shares of the biotechnology company’s stock worth $582,000 after acquiring an additional 51 shares during the period. Institutional investors own 91.11% of the company’s stock.

BIIB traded up $0.32 during midday trading on Thursday, hitting $227.04. The company had a trading volume of 572,285 shares, compared to its average volume of 1,357,400. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.46 and a quick ratio of 2.22. The company has a market capitalization of $42.60 billion, a P/E ratio of 8.67, a PEG ratio of 0.85 and a beta of 0.99. Biogen Inc has a twelve month low of $216.12 and a twelve month high of $358.41. The firm has a 50-day moving average price of $235.51.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $7.58 by $1.57. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $5.80 EPS. On average, research analysts anticipate that Biogen Inc will post 32.41 EPS for the current fiscal year.

A number of research firms have recently commented on BIIB. Wedbush began coverage on shares of Biogen in a report on Wednesday, May 22nd. They set a “neutral” rating and a $231.00 price objective for the company. Argus reaffirmed a “hold” rating on shares of Biogen in a report on Tuesday, May 7th. BidaskClub downgraded shares of Biogen from a “hold” rating to a “sell” rating in a report on Thursday. Oppenheimer set a $290.00 price target on shares of Biogen and gave the company a “buy” rating in a report on Sunday, May 5th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Biogen in a report on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have assigned a buy rating to the company’s stock. Biogen has an average rating of “Hold” and a consensus target price of $269.74.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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