Whitener Capital Management Inc. Lowers Stock Position in Biogen Inc (NASDAQ:BIIB)

Whitener Capital Management Inc. cut its position in shares of Biogen Inc (NASDAQ:BIIB) by 14.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 570 shares of the biotechnology company’s stock after selling 100 shares during the quarter. Whitener Capital Management Inc.’s holdings in Biogen were worth $133,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dillon & Associates Inc. boosted its holdings in Biogen by 1.6% during the first quarter. Dillon & Associates Inc. now owns 2,866 shares of the biotechnology company’s stock worth $676,000 after buying an additional 45 shares in the last quarter. First National Bank of Omaha raised its position in Biogen by 0.3% during the second quarter. First National Bank of Omaha now owns 16,632 shares of the biotechnology company’s stock worth $3,889,000 after acquiring an additional 45 shares during the period. Fulton Bank N.A. raised its position in Biogen by 4.1% during the second quarter. Fulton Bank N.A. now owns 1,199 shares of the biotechnology company’s stock worth $281,000 after acquiring an additional 47 shares during the period. Sigma Investment Counselors Inc. raised its position in Biogen by 4.9% during the second quarter. Sigma Investment Counselors Inc. now owns 1,023 shares of the biotechnology company’s stock worth $239,000 after acquiring an additional 48 shares during the period. Finally, BancorpSouth Bank raised its position in Biogen by 2.1% during the second quarter. BancorpSouth Bank now owns 2,488 shares of the biotechnology company’s stock worth $582,000 after acquiring an additional 51 shares during the period. 91.11% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on BIIB. Barclays reduced their price objective on shares of Biogen from $250.00 to $245.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Mizuho restated a “hold” rating on shares of Biogen in a research report on Thursday, July 25th. Canaccord Genuity upped their price objective on shares of Biogen from $275.00 to $285.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Cowen restated a “buy” rating and set a $275.00 price objective on shares of Biogen in a research report on Tuesday, July 30th. Finally, Piper Jaffray Companies restated a “hold” rating on shares of Biogen in a research report on Friday, July 26th. Four research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $269.74.



Shares of NASDAQ BIIB traded up $4.05 during mid-day trading on Friday, reaching $231.68. The company’s stock had a trading volume of 953,900 shares, compared to its average volume of 1,370,136. The stock has a 50-day moving average of $235.12 and a two-hundred day moving average of $255.06. The stock has a market capitalization of $41.99 billion, a P/E ratio of 8.84, a P/E/G ratio of 0.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.22 and a current ratio of 2.46. Biogen Inc has a 1-year low of $216.12 and a 1-year high of $358.41.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating the Zacks’ consensus estimate of $7.58 by $1.57. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the prior year, the business earned $5.80 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts predict that Biogen Inc will post 32.41 EPS for the current fiscal year.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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