Tocqueville Asset Management L.P. decreased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 2.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,726 shares of the biotechnology company’s stock after selling 2,742 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.05% of Biogen worth $35,297,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BIIB. Guardian Life Insurance Co. of America increased its stake in Biogen by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock worth $229,000 after acquiring an additional 6 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in Biogen by 1.2% during the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 6 shares during the last quarter. RMB Capital Management LLC increased its stake in Biogen by 1.1% during the first quarter. RMB Capital Management LLC now owns 814 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 9 shares during the last quarter. New Amsterdam Partners LLC NY increased its stake in Biogen by 0.8% during the second quarter. New Amsterdam Partners LLC NY now owns 1,471 shares of the biotechnology company’s stock worth $399,000 after acquiring an additional 11 shares during the last quarter. Finally, American Money Management LLC increased its stake in Biogen by 1.0% during the first quarter. American Money Management LLC now owns 1,349 shares of the biotechnology company’s stock worth $369,000 after acquiring an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter last year, the company posted $5.19 earnings per share. Biogen’s revenue was up 4.1% on a year-over-year basis.

Several equities research analysts have issued reports on BIIB shares. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price for the company. in a research note on Tuesday, August 29th. Cantor Fitzgerald reissued a “hold” rating and set a $279.00 target price on shares of Biogen in a research note on Tuesday, October 24th. Royal Bank Of Canada reissued a “hold” rating and set a $315.00 target price on shares of Biogen in a research note on Thursday, October 5th. Canaccord Genuity started coverage on Biogen in a research note on Friday, October 27th. They set a “hold” rating and a $340.00 target price for the company. Finally, Jefferies Group LLC reissued a “hold” rating and set a $310.00 target price on shares of Biogen in a research note on Tuesday, July 11th. Twelve equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $341.25.

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Biogen 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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