Trading Report: The Biogen Inc. (BIIB) Position Increased by Nicolet Bankshares Inc.

The Biogen Inc. (BIIB) Position Increased by Nicolet Bankshares Inc.

Nicolet Bankshares Inc. increased its stake in Biogen Inc. (NASDAQ:BIIB) by 54.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,358 shares of the biotechnology company’s stock after buying an additional 477 shares during the period. Nicolet Bankshares Inc.’s holdings in Biogen were worth $328,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA increased its stake in shares of Biogen by 2.8% in the first quarter. Primecap Management Co. CA now owns 16,246,726 shares of the biotechnology company’s stock valued at $4,229,348,000 after buying an additional 436,101 shares during the last quarter. Jackson Square Partners LLC increased its stake in Biogen by 10.7% in the first quarter. Jackson Square Partners LLC now owns 2,809,422 shares of the biotechnology company’s stock worth $806,152,000 after buying an additional 271,970 shares in the last quarter. Geode Capital Management LLC increased its stake in Biogen by 4.0% in the first quarter. Geode Capital Management LLC now owns 1,995,002 shares of the biotechnology company’s stock worth $518,399,000 after buying an additional 75,964 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Biogen by 17.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,124,950 shares of the biotechnology company’s stock worth $292,847,000 after buying an additional 166,534 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Biogen by 1.4% in the first quarter. Legal & General Group Plc now owns 970,581 shares of the biotechnology company’s stock worth $252,656,000 after buying an additional 13,166 shares in the last quarter. 86.21% of the stock is owned by institutional investors and hedge funds.

Biogen Inc. (NASDAQ:BIIB) traded down 1.33% on Friday, hitting $290.50. 1,149,750 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $306.44 and a 200-day moving average price of $280.68. Biogen Inc. has a 52-week low of $223.02 and a 52-week high of $333.65. The stock has a market cap of $63.65 billion, a P/E ratio of 16.97 and a beta of 0.95.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping the consensus estimate of $4.69 by $0.52. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $4.22 earnings per share. Analysts predict that Biogen Inc. will post $20.08 earnings per share for the current fiscal year.

A number of research firms have issued reports on BIIB. Leerink Swann set a $367.00 price objective on shares of Biogen and gave the company a “hold” rating in a report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $360.00 price objective on shares of Biogen in a report on Wednesday. Vetr raised shares of Biogen from a “hold” rating to a “buy” rating and set a $321.54 price objective for the company in a report on Monday. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $386.00 price objective on shares of Biogen in a report on Friday, October 7th. Finally, Jefferies Group cut their price objective on shares of Biogen from $323.00 to $316.00 and set a “hold” rating for the company in a report on Wednesday, October 5th. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $347.34.

In related news, EVP Adriana Karaboutis sold 262 shares of Biogen stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total value of $81,728.28. Following the transaction, the executive vice president now directly owns 7,579 shares of the company’s stock, valued at $2,364,193.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO George A. Scangos sold 157 shares of Biogen stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $280.00, for a total transaction of $43,960.00. Following the completion of the transaction, the chief executive officer now directly owns 54,779 shares in the company, valued at $15,338,120. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

About Biogen

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

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