Creative Planning Has $12.42 Million Stake in Biogen Inc. (BIIB)
Creative Planning cut its stake in Biogen Inc. (NASDAQ:BIIB) by 5.6% during the second quarter, Holdings Channel reports. The institutional investor owned 45,778 shares of the biotechnology company’s stock after selling 2,713 shares during the period. Creative Planning’s holdings in Biogen were worth $12,422,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of BIIB. Pathstone Family Office LLC acquired a new stake in shares of Biogen during the first quarter valued at $102,000. Prentiss Smith & Co. Inc. boosted its stake in shares of Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of Biogen during the first quarter valued at $106,000. Independent Portfolio Consultants Inc. boosted its stake 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 valued at $123,000 after buying an additional 219 shares in the last quarter. Finally, Winfield Associates Inc. boosted its stake in shares of 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 in the last quarter. 88.38% of the stock is currently owned by institutional investors.
Biogen Inc. (NASDAQ BIIB) traded up 3.05% on Wednesday, hitting $296.69. 731,517 shares of the stock were exchanged. The stock has a market cap of $62.73 billion, a price-to-earnings ratio of 19.47 and a beta of 0.79. The company has a 50-day moving average of $281.89 and a 200-day moving average of $274.11. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $304.23.
Biogen (NASDAQ:BIIB) last announced 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 firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the business posted $5.21 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts predict that Biogen Inc. will post $21.44 EPS for the current year.
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Several analysts recently weighed in on the stock. UBS AG reissued a “neutral” rating and issued a $285.00 price objective (up previously from $270.00) on shares of Biogen in a research note on Wednesday, July 26th. Sanford C. Bernstein reissued an “outperform” rating on shares of Biogen in a research note on Thursday, May 25th. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price objective on the stock. in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a research note on Wednesday. Finally, Deutsche Bank AG restated a “buy” rating and issued a $319.00 target price (up previously from $315.00) on shares of Biogen in a report on Wednesday, July 26th. Eleven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $328.81.
In other news, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction that occurred on 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 sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of Biogen 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 completion of the sale, the director now 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 sold 13,816 shares of company stock valued at $3,931,380 over the last quarter. 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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