Riverhead Capital Management LLC raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 93.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,268 shares of the biotechnology company’s stock after buying an additional 8,340 shares during the quarter. Riverhead Capital Management LLC’s holdings in Biogen were worth $4,686,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BIIB. Waldron LP lifted its position in shares of Biogen by 17.0% during the first quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock valued at $826,000 after buying an additional 439 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Biogen by 8.2% during the first quarter. American Century Companies Inc. now owns 1,078,876 shares of the biotechnology company’s stock valued at $294,986,000 after buying an additional 81,527 shares during the last quarter. Flinton Capital Management LLC lifted its position in shares of Biogen by 210.7% during the first quarter. Flinton Capital Management LLC now owns 5,568 shares of the biotechnology company’s stock valued at $1,522,000 after buying an additional 3,776 shares during the last quarter. FTB Advisors Inc. lifted its position in shares of Biogen by 5.9% during the first quarter. FTB Advisors Inc. now owns 16,042 shares of the biotechnology company’s stock valued at $4,378,000 after buying an additional 893 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. lifted its position in shares of Biogen by 9.1% during the first quarter. Bbva Compass Bancshares Inc. now owns 4,940 shares of the biotechnology company’s stock valued at $1,351,000 after buying an additional 411 shares during the last quarter. 87.65% of the stock is owned by institutional investors and hedge funds.

Biogen Inc. (NASDAQ:BIIB) opened at 319.00 on Thursday. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $330.00. The stock’s 50 day moving average price is $300.47 and its 200-day moving average price is $278.47. The stock has a market cap of $67.45 billion, a price-to-earnings ratio of 20.93 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the prior year, the company posted $5.21 earnings per share. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts predict that Biogen Inc. will post $21.50 EPS for the current year.

In related news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

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BIIB has been the subject of several analyst reports. Deutsche Bank AG initiated coverage on shares of Biogen in a research report on Friday, June 23rd. They set a “buy” rating and a $315.00 price target for the company. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price objective on the stock. in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “neutral” rating to a “buy” rating and upped their price objective for the company from $228.00 to $338.00 in a report on Wednesday, July 26th. Finally, Cowen and Company restated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Thirteen analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $332.67.

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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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