Northwestern Mutual Investment Management Company LLC Has $2.02 Million Holdings in Biogen Inc. (BIIB)

Northwestern Mutual Investment Management Company LLC lessened its stake in Biogen Inc. (NASDAQ:BIIB) by 80.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,356 shares of the biotechnology company’s stock after selling 35,287 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Biogen were worth $2,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of BIIB. BlackRock Inc. grew its stake in shares of Biogen by 2,762.0% during the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after acquiring an additional 17,074,075 shares during the last quarter. Janus Capital Management LLC grew its stake in shares of Biogen by 204.8% during the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after acquiring an additional 1,301,251 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Biogen by 2,288.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after acquiring an additional 1,295,540 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Biogen during the first quarter worth about $345,143,000. Finally, Manning & Napier Advisors LLC grew its stake in shares of Biogen by 563.8% during the second quarter. Manning & Napier Advisors LLC now owns 814,369 shares of the biotechnology company’s stock worth $220,986,000 after acquiring an additional 691,694 shares during the last quarter. Institutional investors own 87.26% of the company’s stock.

Shares of Biogen Inc. (NASDAQ:BIIB) opened at 321.26 on Friday. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $330.00. The company’s 50 day moving average price is $298.79 and its 200 day moving average price is $278.33. The stock has a market capitalization of $67.92 billion, a PE ratio of 21.08 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. Biogen’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.21 earnings per share. Equities analysts anticipate that Biogen Inc. will post $21.48 earnings per share for the current fiscal year.

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A number of equities research analysts have recently weighed in on the company. Mizuho restated a “neutral” rating and set a $319.00 price target (up previously from $274.00) on shares of Biogen in a research note on Wednesday. BMO Capital Markets boosted their price target on Biogen from $328.00 to $377.00 and gave the stock a “market perform” rating in a research note on Wednesday. Vetr upgraded Biogen from a “hold” rating to a “buy” rating and set a $346.83 price target on the stock in a research note on Thursday, September 7th. Royal Bank Of Canada assumed coverage on Biogen in a research note on Thursday. They set a “sector perform” rating and a $319.00 price target on the stock. Finally, ValuEngine lowered Biogen from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Thirteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $331.53.

In related news, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction 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 $7,761,120. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of Biogen 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 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. Insiders own 0.32% 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).

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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