Oregon Public Employees Retirement Fund continued to hold its stake in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,580 shares of the biotechnology company’s stock at the end of the second quarter. Oregon Public Employees Retirement Fund’s holdings in Biogen were worth $14,268,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Capital Guardian Trust Co. raised its position in Biogen by 130.1% in the fourth quarter. Capital Guardian Trust Co. now owns 359 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 203 shares in the last quarter. Pathstone Family Office LLC acquired a new position in Biogen during the first quarter valued at approximately $102,000. Prentiss Smith Co. Inc. raised its position in Biogen by 14.9% in the second quarter. Prentiss Smith Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares in the last quarter. Crestwood Advisors Group LLC acquired a new position in Biogen during the first quarter valued at approximately $106,000. Finally, Independent Portfolio Consultants Inc. raised its position in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.
Shares of Biogen Inc. (BIIB) traded up 0.90% during midday trading on Friday, hitting $283.68. 727,172 shares of the stock traded hands. The stock has a market cap of $59.98 billion, a price-to-earnings ratio of 18.62 and a beta of 0.79. The company’s 50 day moving average price is $281.49 and its 200-day moving average price is $273.98. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $329.83.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping 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 business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm earned $5.21 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that Biogen Inc. will post $21.44 EPS for the current year.
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Several equities analysts recently commented on the stock. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 target price on the stock in a report on Thursday. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Cowen and Company reissued a “buy” rating on shares of Biogen in a report on Thursday, July 27th. BMO Capital Markets reissued a “market perform” rating and issued a $328.00 price target (up previously from $317.00) on shares of Biogen in a report on Wednesday, July 26th. Finally, UBS AG reissued a “neutral” rating and issued a $285.00 price target (up previously from $270.00) on shares of Biogen in a report on Wednesday, July 26th. Eleven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $329.74.
In related news, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the sale, the director now directly owns 6,330 shares in the company, valued at approximately $1,622,442.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the sale, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,816 shares of company stock worth $3,931,380. Insiders own 0.32% of the company’s stock.
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).
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