Los Angeles Capital Management & Equity Research Inc. Has $38.65 Million Position in Biogen Inc. (BIIB)

Los Angeles Capital Management & Equity Research Inc. reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 50.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 142,431 shares of the biotechnology company’s stock after selling 145,274 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.07% of Biogen worth $38,650,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in BIIB. Waldron LP raised its holdings in shares of Biogen by 17.0% during the 1st quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock valued at $826,000 after buying an additional 439 shares during the period. ING Groep NV raised its holdings in shares of Biogen by 1.5% during the 1st quarter. ING Groep NV now owns 69,494 shares of the biotechnology company’s stock valued at $19,001,000 after buying an additional 1,000 shares during the period. Eqis Capital Management Inc. raised its holdings in shares of Biogen by 30.6% during the 1st quarter. Eqis Capital Management Inc. now owns 6,052 shares of the biotechnology company’s stock valued at $1,655,000 after buying an additional 1,419 shares during the period. British Airways Pensions Investment Management Ltd raised its holdings in shares of Biogen by 5.9% during the 1st quarter. British Airways Pensions Investment Management Ltd now owns 120,049 shares of the biotechnology company’s stock valued at $32,807,000 after buying an additional 6,689 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Biogen by 10.6% during the 1st quarter. LSV Asset Management now owns 34,369 shares of the biotechnology company’s stock valued at $9,397,000 after buying an additional 3,300 shares during the period. Institutional investors and hedge funds own 87.26% of the company’s stock.

Several equities research analysts recently commented on BIIB shares. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 target price on the stock in a report on Tuesday, June 27th. Credit Suisse Group set a $300.00 target price on Biogen and gave the company a “hold” rating in a report on Friday, July 14th. Morgan Stanley reiterated an “equal weight” rating and set a $307.00 target price on shares of Biogen in a report on Wednesday, June 14th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $277.00 target price on shares of Biogen in a report on Thursday, May 25th. Thirteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $331.53.

In other news, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Biogen Inc. (NASDAQ BIIB) opened at 321.26 on Friday. The company’s 50-day moving average price is $298.79 and its 200-day moving average price is $278.33. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $330.00. The firm has a market cap of $67.92 billion, a price-to-earnings ratio of 21.08 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the prior year, the firm posted $5.21 EPS. Biogen’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts predict that Biogen Inc. will post $21.48 EPS for the current year.

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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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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