Biogen Inc. (NASDAQ:BIIB) Shares Sold by Triangle Securities Wealth Management
Triangle Securities Wealth Management decreased its stake in Biogen Inc. (NASDAQ:BIIB) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 6,915 shares of the biotechnology company’s stock after selling 25 shares during the period. Triangle Securities Wealth Management’s holdings in Biogen were worth $1,876,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the company. Pathstone Family Office LLC purchased a new position in Biogen during the first quarter valued at $102,000. Crestwood Advisors Group LLC purchased a new position in Biogen during the first quarter valued at $106,000. Winfield Associates Inc. boosted its position in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares during the last quarter. Rational Advisors LLC raised its stake 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 during the period. Finally, Stelac Advisory Services LLC bought a new stake in shares of Biogen during the first quarter worth about $164,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) traded down 1.740% during trading on Thursday, reaching $283.715. 307,818 shares of the company’s stock were exchanged. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $329.83. The stock’s 50 day moving average price is $281.33 and its 200 day moving average price is $273.88. The firm has a market cap of $59.99 billion, a P/E ratio of 18.618 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the firm earned $5.21 earnings per share. Biogen’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Biogen Inc. will post $21.44 EPS for the current fiscal year.
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A number of equities research analysts have issued reports on BIIB shares. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Mizuho decreased their target price on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating for the company in a research note on Wednesday, May 31st. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 target price for the company. in a research note on Tuesday, April 25th. Cowen and Company reissued an “outperform” rating and set a $271.00 target price on shares of Biogen in a research note on Monday, July 3rd. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, June 26th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $329.74.
In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following 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 legal filing with the SEC, which is available through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,816 shares of company stock worth $3,931,380. 0.32% of the stock is owned by 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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