HL Financial Services LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 17.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,462 shares of the biotechnology company’s stock after buying an additional 665 shares during the period. HL Financial Services LLC’s holdings in Biogen were worth $1,211,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dillon & Associates Inc. raised its position in Biogen by 0.3% in the first quarter. Dillon & Associates Inc. now owns 1,785 shares of the biotechnology company’s stock valued at $487,000 after buying an additional 5 shares during the last quarter. Beacon Trust Co. raised its position in Biogen by 0.5% in the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in Biogen by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 6 shares during the last quarter. Carroll Financial Associates Inc. raised its position in Biogen by 1.2% in the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 6 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in Biogen by 0.3% in the first quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock valued at $660,000 after buying an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.25% of the company’s stock.

Biogen Inc. (NASDAQ BIIB) opened at 285.06 on Monday. The stock has a market capitalization of $60.27 billion, a P/E ratio of 18.71 and a beta of 0.79. The firm’s 50-day moving average is $284.39 and its 200 day moving average is $274.87. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $304.23.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the 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 firm posted $5.21 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts anticipate that Biogen Inc. will post $21.44 earnings per share for the current year.

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Several equities analysts have weighed in on BIIB shares. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $301.89 target price on the stock in a report on Monday, May 8th. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Piper Jaffray Companies set a $442.00 price target on shares of Biogen and gave the company a “buy” rating in a research note on Monday, May 15th. Credit Suisse Group set a $300.00 price target on shares of Biogen and gave the company a “hold” rating in a research note on Friday, July 14th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $307.00 price target on shares of Biogen in a research note on Wednesday, June 14th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $328.81.

In other news, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction dated 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 sale, 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. In the last ninety days, insiders have sold 13,816 shares of company stock worth $3,931,380. 0.32% of the stock is currently owned by insiders.

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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