Biogen Inc. (BIIB) Stake Held by Lau Associates LLC
Lau Associates LLC held its position in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,420 shares of the biotechnology company’s stock at the end of the second quarter. Lau Associates LLC’s holdings in Biogen were worth $1,199,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Pathstone Family Office LLC bought a new position in Biogen during the first quarter valued at $102,000. Crestwood Advisors Group LLC acquired a new position in shares of Biogen during the first quarter worth $106,000. Independent Portfolio Consultants Inc. raised its position in shares of Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares in the last quarter. Winfield Associates Inc. raised its position in shares of Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares in the last quarter. Finally, Rational Advisors LLC raised its position in shares of Biogen by 14.3% in the first quarter. Rational Advisors LLC now owns 593 shares of the biotechnology company’s stock worth $162,000 after buying an additional 74 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.
Shares of Biogen Inc. (NASDAQ BIIB) traded down 1.76% during trading on Thursday, reaching $283.65. The company’s stock had a trading volume of 307,927 shares. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $304.23. The stock has a market capitalization of $59.97 billion, a PE ratio of 18.61 and a beta of 0.79. The firm’s 50-day moving average is $281.33 and its 200-day moving average is $273.88.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the business posted $5.21 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities analysts expect that Biogen Inc. will post $21.44 earnings per share for the current year.
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A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $307.00 target price on shares of Biogen in a research report on Wednesday, June 14th. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and increased their target price for the stock from $262.00 to $270.00 in a research report on Monday, June 19th. Leerink Swann reiterated a “market perform” rating and set a $338.00 target price (up previously from $304.00) on shares of Biogen in a research report on Wednesday, July 26th. Vetr lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 target price for the company. in a research report on Wednesday, July 26th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $310.00 target price on shares of Biogen in a research report on Tuesday, April 25th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $329.74.
In other news, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction dated 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 in the company, valued at $6,455,042.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the firm’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 $7,761,120. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,816 shares of company stock valued at $3,931,380. 0.32% of the stock is currently owned by company insiders.
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).
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