Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Biogen Inc. (NASDAQ:BIIB) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,966 shares of the biotechnology company’s stock after purchasing an additional 4,389 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Biogen were worth $23,056,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pathstone Family Office LLC acquired a new stake in Biogen in the 1st quarter worth $102,000. Prentiss Smith & Co. Inc. grew its position in Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 50 shares during the last quarter. Independent Portfolio Consultants Inc. grew its position in Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 219 shares during the last quarter. Winfield Associates Inc. grew its position in Biogen by 16.8% in the 1st quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 67 shares during the last quarter. Finally, Carroll Financial Associates Inc. grew its position in Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 6 shares during the last quarter. Institutional investors own 87.26% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) opened at 326.33 on Monday. The company has a market capitalization of $69.00 billion, a P/E ratio of 21.41 and a beta of 0.77. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $329.84. The firm has a 50 day moving average of $293.33 and a 200-day moving average of $276.98.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.21 earnings per share. On average, analysts forecast that Biogen Inc. will post $21.44 earnings per share for the current year.
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Several research firms have issued reports on BIIB. Vetr upgraded shares of Biogen from a “hold” rating to a “buy” rating and set a $346.83 price target on the stock in a research report on Thursday. ValuEngine lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird restated a “hold” rating and issued a $290.00 price target on shares of Biogen in a research report on Friday, August 25th. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price target on the stock in a research report on Wednesday, August 16th. Finally, BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Twelve research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $329.95.
In related news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
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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