Farallon Capital Management LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 212,500 shares of the biotechnology company’s stock, valued at approximately $57,664,000. Farallon Capital Management LLC owned approximately 0.10% of Biogen at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Biogen by 2.3% in the 2nd quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock valued at $4,913,612,000 after purchasing an additional 415,099 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Biogen by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock valued at $3,944,171,000 after purchasing an additional 182,337 shares during the last quarter. State Street Corp raised its position in Biogen by 2.3% in the 1st quarter. State Street Corp now owns 9,580,383 shares of the biotechnology company’s stock worth $2,619,469,000 after purchasing an additional 219,502 shares during the period. Clearbridge Investments LLC raised its position in Biogen by 4.0% in the 1st quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock worth $2,493,871,000 after purchasing an additional 351,224 shares during the period. Finally, FMR LLC raised its position in Biogen by 10.1% in the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after purchasing an additional 561,436 shares during the period. Hedge funds and other institutional investors own 87.65% of the company’s stock.

Biogen Inc. (NASDAQ BIIB) opened at 317.39 on Wednesday. The company has a market capitalization of $67.11 billion, a P/E ratio of 20.83 and a beta of 0.77. The stock’s 50 day moving average price is $308.56 and its 200 day moving average price is $280.34. Biogen Inc. has a one year low of $244.28 and a one year high of $330.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. Biogen’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.21 earnings per share. Equities analysts anticipate that Biogen Inc. will post $21.51 EPS for the current fiscal year.

A number of research analysts have recently issued reports on the company. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price objective on the stock in a research note on Tuesday, June 27th. Deutsche Bank AG began coverage on Biogen in a research note on Friday, June 23rd. They issued a “buy” rating and a $315.00 target price for the company. Robert W. Baird restated a “hold” rating and set a $290.00 target price on shares of Biogen in a report on Friday, August 25th. Credit Suisse Group set a $300.00 target price on Biogen and gave the company a “hold” rating in a report on Friday, July 14th. Finally, BMO Capital Markets increased their target price on Biogen from $328.00 to $377.00 and gave the company a “market perform” rating in a report on Wednesday, September 13th. Fourteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $328.16.

In other news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

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Biogen Company Profile

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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