Fulton Bank N.A. Increases Stake in Biogen Inc. (NASDAQ:BIIB)

Fulton Bank N.A. lifted its position in Biogen Inc. (NASDAQ:BIIB) by 26.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,429 shares of the biotechnology company’s stock after acquiring an additional 297 shares during the quarter. Fulton Bank N.A.’s holdings in Biogen were worth $447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Trust Co. grew its position in shares of Biogen by 0.5% in the 1st quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock worth $328,000 after acquiring an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America grew its position in shares of Biogen by 0.7% in the 1st 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 in the last quarter. Carroll Financial Associates Inc. grew its position in shares of Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 6 shares in the last quarter. Buckingham Capital Management Inc. grew its position in shares of Biogen by 0.3% in the 1st quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock worth $670,000 after acquiring an additional 8 shares in the last quarter. Finally, RMB Capital Management LLC grew its position in shares of Biogen by 1.1% in the 1st quarter. RMB Capital Management LLC now owns 814 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 9 shares in the last quarter. Institutional investors own 87.47% of the company’s stock.

A number of research firms recently issued reports on BIIB. Vetr lowered Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price objective for the company. in a research report on Tuesday, August 29th. Cantor Fitzgerald restated a “hold” rating and set a $279.00 price objective on shares of Biogen in a research report on Tuesday. Cowen and Company restated an “outperform” rating and set a $271.00 price objective on shares of Biogen in a research report on Monday, July 3rd. Royal Bank Of Canada restated a “hold” rating and set a $315.00 price objective on shares of Biogen in a research report on Thursday, October 5th. Finally, Canaccord Genuity began coverage on Biogen in a research report on Friday. They set a “hold” rating and a $340.00 price objective for the company. Twelve analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $341.25.

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Shares of Biogen Inc. (NASDAQ:BIIB) traded up 0.03% on Friday, reaching $307.74. The company’s stock had a trading volume of 1,679,757 shares. The company has a 50 day moving average price of $324.58 and a 200 day moving average price of $286.98. The company has a market cap of $65.07 billion, a P/E ratio of 20.19 and a beta of 0.77. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $348.84.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the 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 business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the business earned $5.19 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. On average, analysts anticipate that Biogen Inc. will post $22.10 earnings per share for the current fiscal year.

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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