Regentatlantic Capital LLC lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,677 shares of the biotechnology company’s stock after selling 300 shares during the period. Regentatlantic Capital LLC’s holdings in Biogen were worth $2,312,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Primecap Management Co. CA boosted its stake in shares of Biogen by 5.9% during the 1st quarter. Primecap Management Co. CA now owns 16,758,256 shares of the biotechnology company’s stock valued at $4,688,122,000 after buying an additional 936,190 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Biogen by 10.3% in the 1st quarter. Clearbridge Investments LLC now owns 3,969,044 shares of the biotechnology company’s stock valued at $1,110,340,000 after purchasing an additional 370,371 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Biogen by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 2,796,511 shares of the biotechnology company’s stock valued at $780,818,000 after purchasing an additional 37,013 shares during the last quarter. Factorial Partners LLC lifted its stake in shares of Biogen by 23,953.3% in the 1st quarter. Factorial Partners LLC now owns 2,573,700 shares of the biotechnology company’s stock valued at $9,200,000 after purchasing an additional 2,563,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Biogen by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 2,177,098 shares of the biotechnology company’s stock worth $609,041,000 after acquiring an additional 31,006 shares during the last quarter. 83.18% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on BIIB shares. HC Wainwright restated a “buy” rating and set a $452.00 price objective on shares of Biogen in a report on Thursday. Cowen upgraded shares of Biogen from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $225.00 to $450.00 in a report on Monday, June 7th. Evercore ISI set a $324.62 target price on shares of Biogen and gave the company a “buy” rating in a research note on Monday, July 19th. Cantor Fitzgerald reissued a “neutral” rating and issued a $327.51 target price (down previously from $435.00) on shares of Biogen in a research note on Tuesday, July 27th. Finally, SVB Leerink upped their target price on shares of Biogen from $380.00 to $475.00 and gave the company an “outperform” rating in a research note on Thursday, June 10th. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $395.26.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, July 21st. The biotechnology company reported $5.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.55 by $1.13. Biogen had a net margin of 16.40% and a return on equity of 34.74%. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the firm earned $10.26 earnings per share. The firm’s revenue was down 24.6% compared to the same quarter last year. On average, equities analysts expect that Biogen Inc. will post 18.67 EPS for the current year.
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.
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