Wedge Capital Management L L P NC grew its holdings in Biogen Inc (NASDAQ:BIIB) by 21.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,599 shares of the biotechnology company’s stock after purchasing an additional 25,866 shares during the quarter. Wedge Capital Management L L P NC owned about 0.08% of Biogen worth $34,051,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of Biogen by 33.7% during the 1st quarter. AQR Capital Management LLC now owns 4,219,856 shares of the biotechnology company’s stock worth $991,793,000 after buying an additional 1,063,775 shares during the last quarter. Geode Capital Management LLC increased its holdings in Biogen by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 2,713,577 shares of the biotechnology company’s stock valued at $815,190,000 after purchasing an additional 144,464 shares during the last quarter. LSV Asset Management increased its holdings in Biogen by 18.2% in the 1st quarter. LSV Asset Management now owns 922,914 shares of the biotechnology company’s stock valued at $218,158,000 after purchasing an additional 142,412 shares during the last quarter. Boston Partners increased its holdings in Biogen by 424.3% in the 1st quarter. Boston Partners now owns 922,718 shares of the biotechnology company’s stock valued at $218,113,000 after purchasing an additional 746,711 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Biogen by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 790,613 shares of the biotechnology company’s stock valued at $186,885,000 after purchasing an additional 8,048 shares during the last quarter. 91.11% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently weighed in on BIIB shares. Wedbush started coverage on shares of Biogen in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $231.00 target price for the company. Canaccord Genuity lifted their target price on shares of Biogen from $275.00 to $285.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Mizuho reiterated a “hold” rating on shares of Biogen in a report on Thursday, July 25th. Cowen reiterated a “buy” rating and issued a $275.00 target price on shares of Biogen in a report on Tuesday, July 30th. Finally, Piper Jaffray Companies reiterated a “hold” rating on shares of Biogen in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $269.74.

Shares of Biogen stock traded down $5.87 during trading on Wednesday, hitting $227.36. 36,099 shares of the stock were exchanged, compared to its average volume of 1,871,920. The company has a market cap of $42.14 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.86 and a beta of 0.99. The business’s 50-day simple moving average is $235.76. Biogen Inc has a 12-month low of $216.12 and a 12-month high of $358.41. The company has a current ratio of 2.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.49.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $7.58 by $1.57. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $5.80 EPS. On average, equities analysts forecast that Biogen Inc will post 32.41 earnings per share for the current year.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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