The Manufacturers Life Insurance Company grew its holdings in Biogen Inc (NASDAQ:BIIB) by 15.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 196,232 shares of the biotechnology company’s stock after buying an additional 26,782 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of Biogen worth $62,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BIIB. Stralem & Co. Inc. purchased a new position in Biogen in the first quarter valued at $32,000. Solstein Capital LLC acquired a new position in Biogen during the fourth quarter worth $34,000. Covington Capital Management grew its holdings in Biogen by 53.8% during the fourth quarter. Covington Capital Management now owns 120 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 42 shares during the period. Atlas Capital Advisors LLC acquired a new position in Biogen during the first quarter worth $41,000. Finally, Advisory Alpha LLC grew its holdings in Biogen by 318.8% during the fourth quarter. Advisory Alpha LLC now owns 134 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 102 shares during the period. Hedge funds and other institutional investors own 87.45% of the company’s stock.

A number of brokerages recently weighed in on BIIB. Barclays lowered Biogen from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $370.00 to $280.00 in a report on Monday. ValuEngine lowered Biogen from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st. Raymond James lowered Biogen from a “market perform” rating to an “underperform” rating in a report on Wednesday, April 22nd. SunTrust Banks lowered their target price on Biogen from $360.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Robert W. Baird decreased their price objective on Biogen from $290.00 to $228.00 and set an “underperform” rating on the stock in a research note on Friday, June 19th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. Biogen has an average rating of “Hold” and an average target price of $306.50.

Shares of Biogen stock traded down $1.33 during trading hours on Friday, reaching $261.30. The stock had a trading volume of 7,314 shares, compared to its average volume of 2,143,151. The firm has a 50 day simple moving average of $298.35 and a two-hundred day simple moving average of $302.98. The firm has a market capitalization of $42.92 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 0.57 and a beta of 0.54. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.39. Biogen Inc has a 1 year low of $215.77 and a 1 year high of $374.99.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 22nd. The biotechnology company reported $9.14 EPS for the quarter, topping analysts’ consensus estimates of $7.73 by $1.41. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.41 billion. Biogen had a return on equity of 49.22% and a net margin of 40.76%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $6.98 EPS. Sell-side analysts forecast that Biogen Inc will post 33.15 EPS 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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