Trade Report: Today: Bronfman E.L. Rothschild L.P. Reached $725,000 position of Biogen Inc. (BIIB)

Today: Bronfman E.L. Rothschild L.P. Reached $725,000 position  of Biogen Inc. (BIIB)

Bronfman E.L. Rothschild L.P. cut its position in shares of Biogen Inc. (NASDAQ:BIIB) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,315 shares of the biotechnology company’s stock after selling 5 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Biogen were worth $725,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BIIB. Vanguard Group Inc. boosted its position in shares of Biogen by 1.4% in the second quarter. Vanguard Group Inc. now owns 13,544,616 shares of the biotechnology company’s stock valued at $3,275,359,000 after buying an additional 182,714 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Biogen by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,816,485 shares of the biotechnology company’s stock valued at $1,406,542,000 after buying an additional 50,433 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Biogen by 1.5% in the second quarter. BlackRock Fund Advisors now owns 4,843,447 shares of the biotechnology company’s stock valued at $1,171,242,000 after buying an additional 71,709 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Biogen by 0.7% in the second quarter. Alliancebernstein L.P. now owns 3,184,239 shares of the biotechnology company’s stock valued at $770,013,000 after buying an additional 21,307 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in shares of Biogen by 4.3% in the second quarter. BlackRock Group LTD now owns 2,097,788 shares of the biotechnology company’s stock valued at $507,288,000 after buying an additional 86,534 shares in the last quarter. Hedge funds and other institutional investors own 86.43% of the company’s stock.

Shares of Biogen Inc. (NASDAQ:BIIB) traded down 0.33% during mid-day trading on Monday, hitting $304.19. The stock had a trading volume of 495,070 shares. Biogen Inc. has a one year low of $223.02 and a one year high of $333.65. The firm has a 50 day moving average of $299.88 and a 200 day moving average of $287.26. The stock has a market cap of $66.18 billion, a price-to-earnings ratio of 17.20 and a beta of 0.75.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.97 by $0.22. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.91 billion. Biogen had a net margin of 34.03% and a return on equity of 40.02%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.48 earnings per share. On average, analysts forecast that Biogen Inc. will post $20.22 earnings per share for the current year.

BIIB has been the subject of several research reports. Piper Jaffray Cos. reaffirmed a “neutral” rating on shares of Biogen in a report on Wednesday, August 3rd. Leerink Swann raised Biogen from a “market perform” rating to an “outperform” rating in a report on Monday, November 7th. Vetr raised Biogen from a “hold” rating to a “buy” rating and set a $321.54 price objective for the company in a report on Monday, October 10th. Jefferies Group reduced their price objective on Biogen from $323.00 to $316.00 and set a “hold” rating for the company in a report on Wednesday, October 5th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $322.00 price objective on shares of Biogen in a report on Wednesday, August 3rd. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Biogen presently has an average rating of “Buy” and a consensus target price of $338.93.

In other Biogen news, Director Caroline Dorsa sold 27,570 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the transaction, the director now directly owns 19,663 shares of the company’s stock, valued at $6,174,182. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Adriana Karaboutis sold 262 shares of the 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 transaction, the executive vice president now directly owns 7,579 shares in the company, valued at $2,364,193.26. 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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