Capital Planning Advisors LLC trimmed its position in shares of Biogen Inc (NASDAQ:BIIB) by 41.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,743 shares of the biotechnology company’s stock after selling 1,239 shares during the period. Capital Planning Advisors LLC’s holdings in Biogen were worth $506,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Global X Management Co. LLC lifted its position in shares of Biogen by 13.2% in the first quarter. Global X Management Co. LLC now owns 5,014 shares of the biotechnology company’s stock valued at $1,373,000 after acquiring an additional 586 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Biogen by 11.6% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 429,995 shares of the biotechnology company’s stock valued at $117,741,000 after acquiring an additional 44,786 shares in the last quarter. FDx Advisors Inc. lifted its position in shares of Biogen by 31.7% in the first quarter. FDx Advisors Inc. now owns 6,046 shares of the biotechnology company’s stock valued at $1,656,000 after acquiring an additional 1,455 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Biogen by 20.4% in the first quarter. Daiwa Securities Group Inc. now owns 9,575 shares of the biotechnology company’s stock valued at $2,622,000 after acquiring an additional 1,625 shares in the last quarter. Finally, D.B. Root & Company LLC purchased a new position in shares of Biogen in the first quarter valued at approximately $467,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

NASDAQ:BIIB opened at $344.11 on Tuesday. Biogen Inc has a one year low of $249.17 and a one year high of $388.67. The company has a quick ratio of 2.06, a current ratio of 2.36 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $69.54 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.33 and a beta of 0.89.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 EPS for the quarter, beating the consensus estimate of $5.22 by $0.58. Biogen had a return on equity of 38.17% and a net margin of 23.06%. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the firm earned $5.04 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. equities research analysts anticipate that Biogen Inc will post 25.36 earnings per share for the current year.

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald set a $293.00 target price on Biogen and gave the company a “hold” rating in a research report on Wednesday, July 25th. UBS Group raised their target price on Biogen from $354.00 to $395.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Citigroup raised their target price on Biogen to $483.00 and gave the company a “positive” rating in a research report on Thursday, July 26th. Barclays raised their target price on Biogen from $295.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 25th. Finally, Robert W. Baird raised their target price on Biogen from $323.00 to $348.00 and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $374.50.

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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