Fernwood Investment Management LLC lessened its stake in Biogen Inc (NASDAQ:BIIB) by 13.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,785 shares of the biotechnology company’s stock after selling 1,175 shares during the quarter. Fernwood Investment Management LLC’s holdings in Biogen were worth $1,821,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of BIIB. Trustcore Financial Services LLC raised its stake in shares of Biogen by 152.3% in the 2nd quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 67 shares in the last quarter. Resources Investment Advisors Inc. grew its position in shares of Biogen by 500.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 100 shares during the last quarter. Weaver Consulting Group bought a new stake in shares of Biogen during the 1st quarter valued at about $28,000. Private Ocean LLC bought a new stake in shares of Biogen during the 1st quarter valued at about $31,000. Finally, JJJ Advisors Inc. bought a new stake in shares of Biogen during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 91.11% of the company’s stock.
Shares of Biogen stock traded up $0.32 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 business has a 50-day simple moving average of $235.51. The company has a current ratio of 2.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.49. The stock has a market cap 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 52 week low of $216.12 and a 52 week high of $358.41.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.58 by $1.57. The business 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 business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $5.80 earnings per share. On average, equities analysts expect that Biogen Inc will post 32.41 EPS for the current year.
A number of equities research analysts recently weighed in on BIIB shares. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Biogen in a research report on Friday, July 26th. Standpoint Research raised shares of Biogen from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Barclays lowered their price objective on shares of Biogen from $250.00 to $245.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Wedbush started coverage on shares of Biogen in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $231.00 price objective for the company. Finally, Argus reaffirmed a “hold” rating on shares of Biogen in a research report on Tuesday, May 7th. Four equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average 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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