Chevy Chase Trust Holdings Inc. Increases Position in Biogen Inc. (BIIB)

Chevy Chase Trust Holdings Inc. increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 199,832 shares of the biotechnology company’s stock after purchasing an additional 474 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.09% of Biogen worth $62,571,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Carroll Financial Associates Inc. increased its position in Biogen by 1.2% in the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 6 shares during the last quarter. New Amsterdam Partners LLC NY boosted its stake in Biogen by 0.8% during the second quarter. New Amsterdam Partners LLC NY now owns 1,471 shares of the biotechnology company’s stock worth $399,000 after buying an additional 11 shares during the period. Alta Capital Management LLC boosted its stake in Biogen by 0.8% during the second quarter. Alta Capital Management LLC now owns 1,880 shares of the biotechnology company’s stock worth $510,000 after buying an additional 15 shares during the period. Bienville Capital Management LLC boosted its stake in Biogen by 2.2% during the second quarter. Bienville Capital Management LLC now owns 880 shares of the biotechnology company’s stock worth $239,000 after buying an additional 19 shares during the period. Finally, Forbes J M & Co. LLP boosted its stake in Biogen by 0.6% during the second quarter. Forbes J M & Co. LLP now owns 3,121 shares of the biotechnology company’s stock worth $846,000 after buying an additional 19 shares during the period. Institutional investors own 88.30% of the company’s stock.

In other Biogen news, Director Alexander J. Denner acquired 30,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the purchase, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Several research analysts have commented on BIIB shares. Citigroup lowered shares of Biogen from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Mizuho set a $400.00 price objective on shares of Biogen and gave the stock a “buy” rating in a research note on Monday, November 13th. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price objective for the company. in a research note on Wednesday, August 23rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $300.00 price objective on shares of Biogen in a research note on Thursday, October 12th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $290.00 price objective on shares of Biogen in a research note on Friday, August 25th. Twelve investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Biogen has an average rating of “Buy” and an average price target of $344.60.

Shares of Biogen Inc. (NASDAQ:BIIB) opened at $319.57 on Friday. The stock has a market cap of $66,543.32, a price-to-earnings ratio of 14.57, a PEG ratio of 1.96 and a beta of 0.73. Biogen Inc. has a one year low of $244.28 and a one year high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.19 earnings per share. sell-side analysts predict that Biogen Inc. will post 22.03 EPS for the current fiscal year.

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Biogen 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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