Biogen Inc (NASDAQ:BIIB) Shares Sold by Keybank National Association OH

Keybank National Association OH cut its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 9.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,572 shares of the biotechnology company’s stock after selling 1,503 shares during the period. Keybank National Association OH’s holdings in Biogen were worth $3,393,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Thomasville National Bank increased its holdings in Biogen by 4.5% in the second quarter. Thomasville National Bank now owns 24,384 shares of the biotechnology company’s stock valued at $5,703,000 after buying an additional 1,052 shares during the last quarter. Pensionfund DSM Netherlands increased its holdings in Biogen by 20.4% in the second quarter. Pensionfund DSM Netherlands now owns 11,200 shares of the biotechnology company’s stock valued at $2,619,000 after buying an additional 1,900 shares during the last quarter. Pensionfund Sabic increased its holdings in Biogen by 23.0% in the second quarter. Pensionfund Sabic now owns 7,500 shares of the biotechnology company’s stock valued at $1,754,000 after buying an additional 1,400 shares during the last quarter. Fulton Bank N.A. increased its holdings in Biogen by 4.1% in the second quarter. Fulton Bank N.A. now owns 1,199 shares of the biotechnology company’s stock valued at $281,000 after buying an additional 47 shares during the last quarter. Finally, Swedbank grew its holdings in shares of Biogen by 21.9% during the second quarter. Swedbank now owns 156,323 shares of the biotechnology company’s stock worth $36,559,000 after purchasing an additional 28,088 shares during the last quarter. 88.52% of the stock is owned by institutional investors and hedge funds.

Several brokerages have issued reports on BIIB. Cowen raised their price objective on Biogen from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. HC Wainwright raised their price objective on Biogen from $300.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. BMO Capital Markets raised their price objective on Biogen from $250.00 to $297.00 and gave the stock a “market perform” rating in a report on Wednesday, October 23rd. Guggenheim raised Biogen from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $256.00 to $365.00 in a report on Wednesday, October 23rd. Finally, ValuEngine raised Biogen from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $288.33.

Shares of BIIB traded up $6.38 during mid-day trading on Friday, hitting $293.25. 1,476,900 shares of the company’s stock were exchanged, compared to its average volume of 1,920,335. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $251.07 and its two-hundred day moving average is $236.17. Biogen Inc has a fifty-two week low of $215.77 and a fifty-two week high of $344.00. The firm has a market capitalization of $52.72 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.58 and a beta of 1.07.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.27 by $0.90. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Biogen had a net margin of 37.91% and a return on equity of 46.14%. Biogen’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $7.40 EPS. On average, equities research analysts forecast that Biogen Inc will post 33.19 earnings per share for the current year.

Biogen Company 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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