United Bank increased its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 41.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,809 shares of the biotechnology company’s stock after buying an additional 818 shares during the period. United Bank’s holdings in Biogen were worth $657,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Comerica Securities Inc. increased its holdings in Biogen by 18.9% in the 4th quarter. Comerica Securities Inc. now owns 2,207 shares of the biotechnology company’s stock valued at $664,000 after purchasing an additional 351 shares in the last quarter. Geode Capital Management LLC increased its holdings in Biogen by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 2,713,577 shares of the biotechnology company’s stock valued at $815,190,000 after purchasing an additional 144,464 shares in the last quarter. Actinver Wealth Management Inc. acquired a new stake in Biogen in the 4th quarter valued at $387,000. Liberty Wealth Management LLC acquired a new stake in Biogen in the 4th quarter valued at $59,000. Finally, Private Trust Co. NA increased its holdings in Biogen by 9.0% in the 1st quarter. Private Trust Co. NA now owns 1,584 shares of the biotechnology company’s stock valued at $374,000 after purchasing an additional 131 shares in the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on BIIB. Wedbush began coverage on shares of Biogen in a research report on Wednesday, May 22nd. They issued a “neutral” rating and a $231.00 price objective for the company. Raymond James began coverage on shares of Biogen in a research report on Wednesday, April 10th. They issued a “market perform” rating for the company. BidaskClub cut shares of Biogen from a “hold” rating to a “sell” rating in a research report on Tuesday. Citigroup reissued a “neutral” rating on shares of Biogen in a research report on Thursday, May 23rd. Finally, Credit Suisse Group began coverage on shares of Biogen in a research report on Monday, May 20th. They issued an “underperform” rating and a $198.00 price objective for the company. Four research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $269.74.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, topping the consensus estimate of $7.58 by $1.57. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.48 billion. Biogen had a net margin of 37.62% and a return on equity of 44.89%. Biogen’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.80 earnings per share. As a group, sell-side analysts expect that Biogen Inc will post 32.34 EPS for the current fiscal year.
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.
Recommended Story: What is a price target?
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.