Philadelphia Trust Company Decreased Its Stake in Biogen INC (BIIB) by $3.44 Million as Market Valuation Rose

September 30, 2018 - By Vernon Prom

Biogen Inc. (NASDAQ:BIIB) LogoInvestors sentiment decreased to 1.02 in Q2 2018. Its down 0.05, from 1.07 in 2018Q1. It turned negative, as 47 investors sold BIIB shares while 316 reduced holdings. 85 funds opened positions while 286 raised stakes. 170.10 million shares or 4.56% less from 178.22 million shares in 2018Q1 were reported. Benjamin F Edwards reported 656 shares. Moreover, Northern has 0.21% invested in Biogen Inc. (NASDAQ:BIIB). Plante Moran Fincl Advsr Lc holds 294 shares. Geode Management Limited Liability, Massachusetts-based fund reported 2.62M shares. Caprock stated it has 3,147 shares. Waverton accumulated 290 shares or 2.42% of the stock. Avalon Advsrs, a Texas-based fund reported 30,703 shares. Eagle Glob Advisors Ltd Co holds 0.02% of its portfolio in Biogen Inc. (NASDAQ:BIIB) for 2,600 shares. Asset Management One Ltd owns 347,152 shares for 0.22% of their portfolio. Bessemer Grp Inc Inc holds 992 shares or 0% of its portfolio. Cap One Association holds 0.4% in Biogen Inc. (NASDAQ:BIIB) or 18,999 shares. Capstone Inv Ltd Limited Liability Company stated it has 0.01% of its portfolio in Biogen Inc. (NASDAQ:BIIB). Old Mutual Customised Solutions (Proprietary) Limited holds 0.34% or 11,695 shares in its portfolio. Sumitomo Mitsui Asset stated it has 0.07% of its portfolio in Biogen Inc. (NASDAQ:BIIB). Primecap Mgmt Ca accumulated 3.21% or 14.92M shares.

Since April 25, 2018, it had 1 buying transaction, and 0 sales for $12.96 million activity.

Philadelphia Trust Company decreased its stake in Biogen Inc (BIIB) by 12.63% based on its latest 2018Q2 regulatory filing with the SEC. Philadelphia Trust Company sold 11,879 shares as the company’s stock rose 10.79% with the market. The institutional investor held 82,183 shares of the biological products (no diagnostic substances) company at the end of 2018Q2, valued at $23.85M, down from 94,062 at the end of the previous reported quarter. Philadelphia Trust Company who had been investing in Biogen Inc for a number of months, seems to be less bullish one the $71.17 billion market cap company. The stock decreased 0.64% or $2.29 during the last trading session, reaching $353.31. About 1.06 million shares traded. Biogen Inc. (NASDAQ:BIIB) has risen 3.14% since September 30, 2017 and is uptrending. It has underperformed by 12.48% the S&P500.

Analysts await Biogen Inc. (NASDAQ:BIIB) to report earnings on October, 23. They expect $6.80 earnings per share, up 7.77 % or $0.49 from last year’s $6.31 per share. BIIB’s profit will be $1.37 billion for 12.99 P/E if the $6.80 EPS becomes a reality. After $5.80 actual earnings per share reported by Biogen Inc. for the previous quarter, Wall Street now forecasts 17.24 % EPS growth.

More notable recent Biogen Inc. (NASDAQ:BIIB) news were published by: Fool.com which released: “Better Buy: Gilead Sciences, Inc. vs. Biogen” on September 13, 2018, also Fool.com with their article: “Is iShares Nasdaq Biotechnology ETF a Buy?” published on September 21, 2018, Seekingalpha.com published: “Biogen, Inc. (BIIB) Management Presents at Morgan Stanley 16th Annual Global Healthcare Conference (Transcript)” on September 12, 2018. More interesting news about Biogen Inc. (NASDAQ:BIIB) were released by: Fool.com and their article: “Better Buy: Celgene Corp. vs. Biogen” published on September 17, 2018 as well as 247Wallst.com‘s news article titled: “Merrill Lynch Loves Large Cap Biotech: 4 Top Stocks to Buy Now” with publication date: September 27, 2018.

Biogen Inc. (NASDAQ:BIIB) Ratings Coverage

Among 16 analysts covering Biogen (NASDAQ:BIIB), 10 have Buy rating, 0 Sell and 6 Hold. Therefore 63% are positive. Biogen had 25 analyst reports since April 5, 2018 according to SRatingsIntel. SunTrust maintained the shares of BIIB in report on Tuesday, April 24 with “Buy” rating. H.C. Wainwright maintained Biogen Inc. (NASDAQ:BIIB) rating on Wednesday, April 25. H.C. Wainwright has “Buy” rating and $36300 target. The stock has “Neutral” rating by Robert W. Baird on Wednesday, July 25. Morgan Stanley maintained the shares of BIIB in report on Friday, July 13 with “Overweight” rating. The rating was maintained by Citigroup on Wednesday, May 2 with “Neutral”. The rating was maintained by Jefferies on Tuesday, April 24 with “Hold”. Barclays Capital maintained Biogen Inc. (NASDAQ:BIIB) rating on Wednesday, July 25. Barclays Capital has “Equal-Weight” rating and $320 target. The firm has “Buy” rating given on Tuesday, April 24 by Oppenheimer. RBC Capital Markets maintained it with “Hold” rating and $31600 target in Wednesday, April 4 report. As per Monday, July 23, the company rating was maintained by Canaccord Genuity.

Biogen Inc. (NASDAQ:BIIB) Ratings Chart

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