Alps Advisors Inc. Cuts Position in Biogen Inc (BIIB)

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Alps Advisors Inc. reduced its stake in Biogen Inc (NASDAQ:BIIB) by 19.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,802 shares of the biotechnology company’s stock after selling 435 shares during the quarter. Alps Advisors Inc.’s holdings in Biogen were worth $574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Biogen by 2.8% in the 1st quarter. BlackRock Inc. now owns 17,268,339 shares of the biotechnology company’s stock valued at $4,728,416,000 after acquiring an additional 463,656 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Biogen by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,095,005 shares of the biotechnology company’s stock valued at $608,054,000 after buying an additional 18,790 shares during the last quarter. Summit Trail Advisors LLC increased its stake in Biogen by 24,755.6% in the 1st quarter. Summit Trail Advisors LLC now owns 1,491,088 shares of the biotechnology company’s stock valued at $1,491,000 after buying an additional 1,485,089 shares during the last quarter. American Century Companies Inc. increased its stake in Biogen by 17.0% in the 1st quarter. American Century Companies Inc. now owns 1,171,329 shares of the biotechnology company’s stock valued at $320,733,000 after buying an additional 169,942 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in Biogen by 38.8% in the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 896,844 shares of the biotechnology company’s stock valued at $245,573,000 after buying an additional 250,926 shares during the last quarter. 91.34% of the stock is currently owned by institutional investors and hedge funds.

BIIB has been the topic of several recent research reports. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Credit Suisse Group set a $384.00 price target on shares of Biogen and gave the company a “buy” rating in a research note on Tuesday, April 24th. Cowen reiterated a “buy” rating and issued a $408.00 price target on shares of Biogen in a research note on Tuesday, April 24th. BidaskClub upgraded shares of Biogen from a “sell” rating to a “hold” rating in a research note on Friday, April 27th. Finally, Citigroup lowered their price target on shares of Biogen from $360.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 2nd. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $374.50.

Biogen stock opened at $344.11 on Tuesday. The stock has a market cap of $69.09 billion, a PE ratio of 15.78, a PEG ratio of 1.46 and a beta of 0.89. Biogen Inc has a fifty-two week low of $249.17 and a fifty-two week high of $388.67. The company has a current ratio of 2.36, a quick ratio of 2.06 and a debt-to-equity ratio of 0.48.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share for the quarter, topping the consensus estimate of $5.22 by $0.58. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.25 billion. Biogen had a net margin of 23.06% and a return on equity of 38.17%. Biogen’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $5.04 EPS. research analysts expect that Biogen Inc will post 25.35 EPS for the current fiscal year.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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