Provident Investment Management INC Lifted Biogen INC (BIIB) Stake by $4.33 Million

September 8, 2018 - By Carolyn Hewitt

Biogen Inc. (NASDAQ:BIIB) LogoInvestors sentiment decreased to 1.07 in 2018 Q1. Its down 0.10, from 1.17 in 2017Q4. It dived, as 69 investors sold BIIB shares while 305 reduced holdings. 92 funds opened positions while 308 raised stakes. 178.22 million shares or 1.35% less from 180.65 million shares in 2017Q4 were reported. North Star Asset Mngmt holds 0.06% or 2,457 shares in its portfolio. Martingale Asset Management Limited Partnership owns 0.04% invested in Biogen Inc. (NASDAQ:BIIB) for 11,560 shares. 1,157 are held by Tower Rech Capital Ltd Llc (Trc). Prentiss Smith & reported 0.06% in Biogen Inc. (NASDAQ:BIIB). The Illinois-based High Pointe Cap Mgmt Ltd Liability Corp has invested 0.93% in Biogen Inc. (NASDAQ:BIIB). Royal Bancorp Of Canada reported 647,320 shares. Letko Brosseau & Associates has invested 0.54% in Biogen Inc. (NASDAQ:BIIB). 1.84M were reported by Fincl Bank Of America De. Blackrock reported 0.23% stake. Washington Tru Financial Bank invested in 2,431 shares or 0.1% of the stock. Comerica accumulated 0.04% or 1,140 shares. 429,995 were reported by Fort Washington Invest Advsr Inc Oh. Moreover, Livforsakringsbolaget Skandia Omsesidigt has 0.03% invested in Biogen Inc. (NASDAQ:BIIB). Brown Cap Mgmt Ltd Liability Corporation stated it has 0% of its portfolio in Biogen Inc. (NASDAQ:BIIB). Stratos Wealth Partners Limited holds 8,951 shares or 0.1% of its portfolio.

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

Provident Investment Management Inc increased its stake in Biogen Inc (BIIB) by 23.71% based on its latest 2018Q1 regulatory filing with the SEC. Provident Investment Management Inc bought 15,874 shares as the company’s stock declined 1.31% with the market. The institutional investor held 82,830 shares of the biological products (no diagnostic substances) company at the end of 2018Q1, valued at $22.68 million, up from 66,956 at the end of the previous reported quarter. Provident Investment Management Inc who had been investing in Biogen Inc for a number of months, seems to be bullish on the $68.42B market cap company. The stock decreased 0.50% or $1.69 during the last trading session, reaching $339.65. About 858,874 shares traded. Biogen Inc. (NASDAQ:BIIB) has risen 13.14% since September 8, 2017 and is uptrending. It has outperformed by 0.57% the S&P500.

Provident Investment Management Inc, which manages about $417.42 million and $633.37M US Long portfolio, decreased its stake in Aspen Technology Inc (NASDAQ:AZPN) by 214,965 shares to 13,500 shares, valued at $1.07M in 2018Q1, according to the filing.

More notable recent Biogen Inc. (NASDAQ:BIIB) news were published by: Nasdaq.com which released: “Gene Editing is a Major Technology to Watch” on August 27, 2018, also Nasdaq.com with their article: “Biogen Enrolls First Patient in Global Phase 3 Study of BIIB093 (IV Glibenclamide) for Large Hemispheric Infarction” published on September 04, 2018, Seekingalpha.com published: “By The Numbers: Is Biogen A Buy?” on August 30, 2018. More interesting news about Biogen Inc. (NASDAQ:BIIB) were released by: Fool.com and their article: “Ionis Pharmaceuticals’ Royalties Rise, but So Do Expenses” published on August 13, 2018 as well as Seekingalpha.com‘s news article titled: “Biogen’s Alzheimer’s candidate aducanumab maintains risk-benefit profile in long-term extension study” with publication date: August 28, 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. The firm has “Equal-Weight” rating by Barclays Capital given on Thursday, April 5. The rating was maintained by Stifel Nicolaus on Tuesday, August 7 with “Buy”. Oppenheimer maintained the stock with “Buy” rating in Tuesday, April 24 report. Barclays Capital maintained Biogen Inc. (NASDAQ:BIIB) on Wednesday, July 25 with “Equal-Weight” rating. The rating was maintained by Morgan Stanley with “Overweight” on Wednesday, April 25. The rating was maintained by Jefferies with “Hold” on Tuesday, April 24. On Thursday, May 31 the stock rating was upgraded by Canaccord Genuity to “Buy”. The firm earned “Buy” rating on Tuesday, April 24 by Guggenheim. The company was maintained on Tuesday, April 10 by Bernstein. RBC Capital Markets maintained the stock with “Hold” rating in Tuesday, April 24 report.

Biogen Inc. (NASDAQ:BIIB) Ratings Chart

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