Biogen Inc (BIIB) Position Reduced by Bank of The West

Bank of The West lessened its holdings in Biogen Inc (NASDAQ:BIIB) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,306 shares of the biotechnology company’s stock after selling 365 shares during the quarter. Bank of The West’s holdings in Biogen were worth $5,408,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bbva Compass Bancshares Inc. boosted its stake in Biogen by 23.4% in the third quarter. Bbva Compass Bancshares Inc. now owns 4,890 shares of the biotechnology company’s stock valued at $1,728,000 after acquiring an additional 928 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Biogen by 9.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,842 shares of the biotechnology company’s stock valued at $2,064,000 after acquiring an additional 510 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Biogen by 13.0% in the third quarter. Rockefeller Capital Management L.P. now owns 321,622 shares of the biotechnology company’s stock valued at $113,632,000 after acquiring an additional 37,049 shares in the last quarter. Commerce Bank boosted its stake in Biogen by 0.7% in the third quarter. Commerce Bank now owns 29,150 shares of the biotechnology company’s stock valued at $10,299,000 after acquiring an additional 202 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Biogen by 80.9% in the third quarter. Daiwa Securities Group Inc. now owns 17,825 shares of the biotechnology company’s stock valued at $6,297,000 after acquiring an additional 7,970 shares in the last quarter. 87.55% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the executive vice president now owns 4,281 shares in the company, valued at $1,498,350. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Shares of NASDAQ:BIIB opened at $317.15 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.75 and a quick ratio of 2.46. The stock has a market capitalization of $63.00 billion, a P/E ratio of 14.54, a PEG ratio of 1.24 and a beta of 1.01. Biogen Inc has a 52 week low of $249.17 and a 52 week high of $388.67.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, beating the Zacks’ consensus estimate of $6.78 by $0.62. The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.33 billion. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $6.31 earnings per share. On average, sell-side analysts anticipate that Biogen Inc will post 25.58 earnings per share for the current fiscal year.

Several equities analysts have issued reports on BIIB shares. Guggenheim restated a “buy” rating and issued a $410.00 price objective on shares of Biogen in a research note on Tuesday, July 24th. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Cowen restated a “buy” rating and issued a $408.00 price objective on shares of Biogen in a research note on Tuesday, July 24th. Mizuho restated a “buy” rating and issued a $423.00 price objective on shares of Biogen in a research note on Tuesday, July 24th. Finally, Canaccord Genuity upped their price objective on shares of Biogen from $335.00 to $396.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $383.01.

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Biogen Company Profile

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

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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