Oak Ridge Investments LLC Has $6.64 Million Holdings in Biogen Inc. (BIIB)

Oak Ridge Investments LLC raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,478 shares of the biotechnology company’s stock after acquiring an additional 1,060 shares during the period. Oak Ridge Investments LLC’s holdings in Biogen were worth $6,642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Beacon Trust Co. raised its stake in Biogen by 0.5% during the 1st quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock valued at $328,000 after acquiring an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in Biogen by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 6 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in Biogen by 1.2% during the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 6 shares during the last quarter. Trust Co. of Vermont raised its stake in Biogen by 0.3% during the 1st quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock valued at $660,000 after acquiring an additional 7 shares during the last quarter. Finally, Buckingham Capital Management Inc. raised its stake in Biogen by 0.3% during the 1st quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock valued at $670,000 after acquiring an additional 8 shares during the last quarter. 87.65% of the stock is owned by hedge funds and other institutional investors.

Shares of Biogen Inc. (NASDAQ:BIIB) opened at 319.00 on Thursday. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $330.00. The firm has a market cap of $67.45 billion, a PE ratio of 20.93 and a beta of 0.77. The stock’s 50 day moving average price is $300.47 and its 200 day moving average price is $278.47.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the previous year, the company posted $5.21 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that Biogen Inc. will post $21.50 EPS for the current fiscal year.

In other news, 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 transaction of $2,211,030.00. Following the transaction, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction on 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 transaction, 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. Insiders own 0.32% of the company’s stock.

A number of equities analysts have recently issued reports on the company. ValuEngine raised Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 target price for the company in a research note on Tuesday, June 27th. Credit Suisse Group set a $300.00 target price on Biogen and gave the stock a “hold” rating in a research note on Friday, July 14th. Morgan Stanley reissued an “equal weight” rating and set a $307.00 target price on shares of Biogen in a research note on Wednesday, June 14th. Finally, Robert W. Baird reissued a “hold” rating and set a $290.00 target price on shares of Biogen in a research note on Friday, August 25th. Thirteen analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Biogen has an average rating of “Buy” and a consensus target price of $332.67.

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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).

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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