Arrowstreet Capital Limited Partnership Raises Stake in Biogen Inc. (BIIB)

Arrowstreet Capital Limited Partnership grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 3,023.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,300 shares of the biotechnology company’s stock after purchasing an additional 154,200 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.08% of Biogen worth $43,228,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BIIB. Pathstone Family Office LLC acquired a new position in shares of Biogen in the 1st quarter valued at about $102,000. Prentiss Smith & Co. Inc. increased its holdings in shares of Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 50 shares during the period. Independent Portfolio Consultants Inc. increased its holdings in shares of Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 219 shares during the period. Winfield Associates Inc. increased its holdings in shares of Biogen by 16.8% in the 1st quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after purchasing an additional 67 shares during the period. Finally, Carroll Financial Associates Inc. increased its holdings in shares of Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 6 shares during the period. Institutional investors own 87.65% of the company’s stock.

Biogen Inc. (NASDAQ:BIIB) traded up 0.70% during midday trading on Monday, hitting $329.77. The stock had a trading volume of 307,873 shares. The firm has a market capitalization of $69.72 billion, a price-to-earnings ratio of 21.64 and a beta of 0.77. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $332.24. The firm has a 50-day moving average price of $311.50 and a 200-day moving average price of $281.29.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.21 EPS. On average, equities research analysts anticipate that Biogen Inc. will post $21.53 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Arrowstreet Capital Limited Partnership Raises Stake in Biogen Inc. (BIIB)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://ledgergazette.com/2017/10/09/arrowstreet-capital-limited-partnership-raises-stake-in-biogen-inc-biib.html.

A number of brokerages have recently weighed in on BIIB. UBS AG reiterated a “neutral” rating and issued a $285.00 target price (up previously from $270.00) on shares of Biogen in a report on Wednesday, July 26th. Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 target price on the stock. in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 target price on the stock in a report on Wednesday, August 16th. Morgan Stanley upgraded Biogen from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $311.00 to $375.00 in a report on Thursday. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $319.00 target price (up previously from $315.00) on shares of Biogen in a report on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $330.66.

In related news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the sale, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price

Several other institutional investors and hedge funds have also modified their holdings of BIIB. Pathstone Family Office LLC acquired a new position in shares of Biogen in the 1st quarter valued at about $102,000. Prentiss Smith & Co. Inc. increased its holdings in shares of Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 50 shares during the period. Independent Portfolio Consultants Inc. increased its holdings in shares of Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 219 shares during the period. Winfield Associates Inc. increased its holdings in shares of Biogen by 16.8% in the 1st quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after purchasing an additional 67 shares during the period. Finally, Carroll Financial Associates Inc. increased its holdings in shares of Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 6 shares during the period. Institutional investors own 87.65% of the company’s stock.

Biogen Inc. (NASDAQ:BIIB) traded up 0.70% during midday trading on Monday, hitting $329.77. The stock had a trading volume of 307,873 shares. The firm has a market capitalization of $69.72 billion, a price-to-earnings ratio of 21.64 and a beta of 0.77. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $332.24. The firm has a 50-day moving average price of $311.50 and a 200-day moving average price of $281.29.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.21 EPS. On average, equities research analysts anticipate that Biogen Inc. will post $21.53 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Arrowstreet Capital Limited Partnership Raises Stake in Biogen Inc. (BIIB)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://ledgergazette.com/2017/10/09/arrowstreet-capital-limited-partnership-raises-stake-in-biogen-inc-biib.html.

A number of brokerages have recently weighed in on BIIB. UBS AG reiterated a “neutral” rating and issued a $285.00 target price (up previously from $270.00) on shares of Biogen in a report on Wednesday, July 26th. Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 target price on the stock. in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 target price on the stock in a report on Wednesday, August 16th. Morgan Stanley upgraded Biogen from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $311.00 to $375.00 in a report on Thursday. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $319.00 target price (up previously from $315.00) on shares of Biogen in a report on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $330.66.

In related news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the sale, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the sale, the executive vice president now owns 27,232 shares of the company’s stock, valued at $7,761,120. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

About Biogen

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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