Todays Report: The 2,061 Shares of Biogen Inc. (BIIB) are sold by Henderson Group PLC

The 2,061 Shares of Biogen Inc. (BIIB) are sold by Henderson Group PLC

Henderson Group PLC lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,985 shares of the biotechnology company’s stock after selling 2,061 shares during the period. Henderson Group PLC’s holdings in Biogen were worth $7,252,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Roberts Glore & Co. Inc. IL raised its stake in shares of Biogen by 37.8% in the second quarter. Roberts Glore & Co. Inc. IL now owns 1,858 shares of the biotechnology company’s stock worth $449,000 after buying an additional 510 shares during the period. Nicolet Bankshares Inc. raised its position in shares of Biogen by 54.1% in the second quarter. Nicolet Bankshares Inc. now owns 1,358 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 477 shares during the last quarter. Jackson Park Capital LLC purchased a new position in shares of Biogen during the second quarter valued at approximately $2,829,000. Quantitative Systematic Strategies LLC raised its position in shares of Biogen by 58.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 4,575 shares of the biotechnology company’s stock valued at $1,093,000 after buying an additional 1,681 shares during the last quarter. Finally, Whittier Trust Co. raised its position in shares of Biogen by 1.1% in the second quarter. Whittier Trust Co. now owns 40,427 shares of the biotechnology company’s stock valued at $9,776,000 after buying an additional 443 shares during the last quarter. Hedge funds and other institutional investors own 86.21% of the company’s stock.

Shares of Biogen Inc. (NASDAQ:BIIB) traded up 0.40% on Monday, reaching $291.67. The company’s stock had a trading volume of 1,209,675 shares. The company has a 50 day moving average price of $305.97 and a 200 day moving average price of $280.96. The company has a market cap of $63.91 billion, a P/E ratio of 17.04 and a beta of 0.95. Biogen Inc. has a 52-week low of $223.02 and a 52-week high of $333.65.

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

BIIB has been the subject of several research reports. Morgan Stanley reiterated a “buy” rating on shares of Biogen in a research report on Thursday, June 30th. Sanford C. Bernstein initiated coverage on Biogen in a research report on Wednesday, June 29th. They issued an “outperform” rating and a $282.00 target price for the company. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 target price for the company in a research report on Monday, September 12th. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $333.00 target price (up previously from $293.00) on shares of Biogen in a research report on Tuesday, August 16th. Finally, Zacks Investment Research upgraded Biogen from a “hold” rating to a “buy” rating and set a $321.00 target price for the company in a research report on Wednesday, July 27th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Biogen currently has an average rating of “Buy” and an average target price of $347.34.

In related news, EVP Adriana Karaboutis sold 262 shares of the firm’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $311.94, for a total transaction of $81,728.28. Following the sale, the executive vice president now owns 7,579 shares of the company’s stock, valued at approximately $2,364,193.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total value of $8,656,980.00. Following the sale, the director now directly owns 19,663 shares in the company, valued at approximately $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

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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