Westside Investment Management Inc. cut its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,989 shares of the biotechnology company’s stock after selling 70 shares during the period. Westside Investment Management Inc.’s holdings in Biogen were worth $818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Botty Investors LLC increased its stake in shares of Biogen by 75.0% during the second quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock valued at $3,048,000 after buying an additional 4,812 shares during the period. Savant Capital LLC increased its stake in shares of Biogen by 3.7% during the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 30 shares during the period. BB&T Securities LLC increased its stake in shares of Biogen by 25.0% during the second quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock valued at $3,524,000 after buying an additional 2,598 shares during the period. Vanguard Group Inc. increased its stake in shares of Biogen by 2.4% during the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after buying an additional 342,568 shares during the period. Finally, Israel Discount Bank of New York purchased a new position in shares of Biogen during the first quarter valued at approximately $894,000. 87.65% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Biogen Inc. (BIIB) traded up 0.23% during mid-day trading on Friday, reaching $327.48. The company’s stock had a trading volume of 1,038,975 shares. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $330.98. The firm has a market cap of $69.24 billion, a P/E ratio of 21.49 and a beta of 0.77. The firm’s 50-day moving average price is $311.50 and its 200 day moving average price is $281.29.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.21 EPS. On average, analysts expect that Biogen Inc. will post $21.53 EPS for the current year.

In other news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction dated 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 owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were 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 approximately $6,455,042.58. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Several equities analysts have recently issued reports on the company. UBS AG raised Biogen from a “sell” rating to a “neutral” rating and boosted their target price for the company from $262.00 to $270.00 in a research note on Monday, June 19th. Morgan Stanley raised Biogen from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $311.00 to $375.00 in a research note on Thursday. Royal Bank Of Canada reissued a “hold” rating and set a $315.00 target price on shares of Biogen in a research note on Thursday. Mizuho reissued a “neutral” rating and set a $319.00 target price on shares of Biogen in a research note on Monday, October 2nd. Finally, Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 target price on the stock in a research note on Thursday, August 10th. Thirteen research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Biogen presently has an average rating of “Buy” and an average price target of $330.66.

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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