Charter Trust Co. decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 23.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,912 shares of the biotechnology company’s stock after selling 590 shares during the period. Charter Trust Co.’s holdings in Biogen were worth $519,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. Berkshire Asset Management LLC PA increased its stake in Biogen by 9.4% in the first quarter. Berkshire Asset Management LLC PA now owns 2,197 shares of the biotechnology company’s stock worth $601,000 after buying an additional 189 shares during the period. Wrapmanager Inc. increased its stake in Biogen by 7.7% in the first quarter. Wrapmanager Inc. now owns 5,525 shares of the biotechnology company’s stock worth $1,511,000 after buying an additional 396 shares during the period. Savant Capital LLC increased its stake in Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock worth $231,000 after buying an additional 30 shares during the period. Reilly Financial Advisors LLC increased its stake in Biogen by 5.1% in the first quarter. Reilly Financial Advisors LLC now owns 1,130 shares of the biotechnology company’s stock worth $309,000 after buying an additional 55 shares during the period. Finally, Vanguard Group Inc. increased its stake in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Shares of Biogen Inc. (BIIB) traded up 0.90% on Friday, reaching $283.68. 727,172 shares of the company were exchanged. The stock has a 50 day moving average price of $281.49 and a 200-day moving average price of $273.98. The stock has a market capitalization of $59.98 billion, a P/E ratio of 18.62 and a beta of 0.79. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $329.83.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping the consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for 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%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $5.21 EPS. On average, equities analysts expect that Biogen Inc. will post $21.44 EPS for the current fiscal year.

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A number of analysts have commented on BIIB shares. Robert W. Baird restated a “neutral” rating and set a $290.00 price target on shares of Biogen in a research report on Tuesday, April 18th. Mizuho restated a “hold” rating and set a $290.00 price target on shares of Biogen in a research report on Tuesday, April 18th. Barclays PLC restated an “overweight” rating and set a $360.00 price target (down from $380.00) on shares of Biogen in a research report on Sunday, April 23rd. Sanford C. Bernstein restated an “outperform” rating and set a $310.00 price target on shares of Biogen in a research report on Tuesday, April 25th. Finally, Cantor Fitzgerald set a $278.00 price target on shares of Biogen and gave the stock a “hold” rating in a research report on Tuesday, April 25th. Eleven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. The company presently 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 that occurred on 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 of the company’s stock, valued at approximately $6,455,042.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $256.31, for a total transaction of $277,840.04. Following the transaction, the director now directly owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The disclosure for this sale can be found here. Insiders have sold a total of 13,816 shares of company stock valued at $3,931,380 over the last ninety days. Company insiders own 0.32% of the company’s stock.

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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