ETRADE Capital Management LLC Has $943,000 Stock Holdings in Biogen Inc (NASDAQ:BIIB)

ETRADE Capital Management LLC lessened its holdings in Biogen Inc (NASDAQ:BIIB) by 57.6% during the first quarter, HoldingsChannel reports. The firm owned 2,981 shares of the biotechnology company’s stock after selling 4,049 shares during the quarter. ETRADE Capital Management LLC’s holdings in Biogen were worth $943,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Dai Ichi Life Insurance Company Ltd boosted its holdings in shares of Biogen by 1.5% in the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 15,672 shares of the biotechnology company’s stock valued at $4,958,000 after purchasing an additional 230 shares in the last quarter. Partnervest Advisory Services LLC boosted its holdings in shares of Biogen by 43.5% in the 1st quarter. Partnervest Advisory Services LLC now owns 1,380 shares of the biotechnology company’s stock valued at $436,000 after purchasing an additional 418 shares in the last quarter. WBI Investments Inc. acquired a new stake in shares of Biogen in the 1st quarter valued at $3,282,000. Quilter Plc acquired a new stake in shares of Biogen in the 1st quarter valued at $235,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Biogen by 4.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 82,218 shares of the biotechnology company’s stock valued at $26,012,000 after acquiring an additional 3,264 shares in the last quarter. 90.73% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Stephen A. Sherwin sold 2,434 shares of Biogen stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $295.22, for a total value of $718,565.48. Following the completion of the transaction, the director now directly owns 16,517 shares of the company’s stock, valued at approximately $4,876,148.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.

Several equities research analysts recently weighed in on BIIB shares. Stifel Nicolaus cut their price objective on Biogen from $296.00 to $294.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $308.00 price objective (down previously from $361.00) on shares of Biogen in a report on Friday, May 1st. Robert W. Baird raised their price objective on Biogen from $250.00 to $290.00 and gave the company an “underperform” rating in a report on Wednesday, February 5th. Citigroup downgraded Biogen from a “neutral” rating to a “sell” rating and cut their price objective for the company from $365.00 to $240.00 in a report on Thursday, April 23rd. Finally, Royal Bank of Canada reissued a “hold” rating and set a $310.00 price objective on shares of Biogen in a report on Thursday, April 30th. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $317.46.

BIIB stock opened at $304.53 on Friday. The stock has a 50-day moving average price of $312.63 and a 200-day moving average price of $303.36. Biogen Inc has a 1-year low of $215.77 and a 1-year high of $374.99. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.39. The firm has a market cap of $49.68 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 22nd. The biotechnology company reported $9.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $7.73 by $1.41. Biogen had a return on equity of 49.22% and a net margin of 40.76%. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same period last year, the company posted $6.98 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts forecast that Biogen Inc will post 33.13 earnings per share for the current year.

Biogen 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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