Everett Harris & Co. CA purchased a new stake in shares of Biogen Inc (NASDAQ:BIIB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 863 shares of the biotechnology company’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Biogen by 2.5% during the 1st quarter. BlackRock Inc. now owns 16,043,037 shares of the biotechnology company’s stock valued at $5,075,698,000 after purchasing an additional 384,396 shares during the period. Primecap Management Co. CA grew its holdings in shares of Biogen by 5.1% in the first quarter. Primecap Management Co. CA now owns 15,965,989 shares of the biotechnology company’s stock valued at $5,051,320,000 after purchasing an additional 776,508 shares in the last quarter. State Street Corp grew its holdings in shares of Biogen by 0.4% in the first quarter. State Street Corp now owns 8,262,242 shares of the biotechnology company’s stock valued at $2,614,008,000 after purchasing an additional 30,055 shares in the last quarter. Geode Capital Management LLC raised its stake in Biogen by 2.1% during the first quarter. Geode Capital Management LLC now owns 3,372,294 shares of the biotechnology company’s stock valued at $1,065,558,000 after purchasing an additional 69,657 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Biogen by 14.0% during the first quarter. Bank of New York Mellon Corp now owns 2,412,860 shares of the biotechnology company’s stock valued at $763,380,000 after purchasing an additional 295,556 shares during the last quarter. 87.34% of the stock is owned by institutional investors.

Several analysts have recently issued reports on BIIB shares. Wells Fargo & Co upped their target price on shares of Biogen from $311.00 to $324.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Wedbush decreased their price objective on Biogen from $306.00 to $295.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Credit Suisse Group reiterated a “hold” rating and issued a $270.00 target price on shares of Biogen in a report on Thursday, June 25th. Canaccord Genuity cut their target price on Biogen from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Finally, ValuEngine downgraded Biogen from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. Six analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the stock. Biogen has an average rating of “Hold” and a consensus price target of $307.79.

Shares of Biogen stock opened at $274.69 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.46 and a quick ratio of 2.19. The stock has a market cap of $43.49 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 0.77 and a beta of 0.54. The firm’s 50-day moving average is $273.66 and its two-hundred day moving average is $298.73. Biogen Inc has a 1 year low of $215.77 and a 1 year high of $374.99.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, July 22nd. The biotechnology company reported $10.26 earnings per share for the quarter, topping the consensus estimate of $8.03 by $2.23. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Biogen had a net margin of 40.91% and a return on equity of 50.10%. During the same quarter in the prior year, the company earned $9.15 EPS. On average, equities analysts expect that Biogen Inc will post 35.51 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.

Further Reading: How is inflation measured?

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.