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

ETRADE Capital Management LLC lowered its holdings in Biogen Inc (NASDAQ:BIIB) by 57.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the business. Cornell Pochily Investment Advisors Inc. boosted its stake in Biogen by 1.8% in the first quarter. Cornell Pochily Investment Advisors Inc. now owns 1,655 shares of the biotechnology company’s stock worth $524,000 after purchasing an additional 30 shares in the last quarter. Buckingham Asset Management LLC boosted its stake in Biogen by 3.9% in the first quarter. Buckingham Asset Management LLC now owns 875 shares of the biotechnology company’s stock worth $277,000 after purchasing an additional 33 shares in the last quarter. CAPROCK Group Inc. boosted its stake in Biogen by 0.8% in the fourth quarter. CAPROCK Group Inc. now owns 4,560 shares of the biotechnology company’s stock worth $1,353,000 after purchasing an additional 36 shares in the last quarter. Eudaimonia Partners LLC boosted its stake in Biogen by 2.9% in the first quarter. Eudaimonia Partners LLC now owns 1,287 shares of the biotechnology company’s stock worth $407,000 after purchasing an additional 36 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in Biogen by 1.4% in the fourth quarter. Trust Co. of Vermont now owns 2,669 shares of the biotechnology company’s stock worth $792,000 after purchasing an additional 37 shares in the last quarter. 90.73% of the stock is currently owned by institutional investors.

Shares of Biogen stock opened at $304.53 on Friday. Biogen Inc has a 1 year low of $215.77 and a 1 year high of $374.99. The business has a 50-day moving average of $312.63 and a two-hundred day moving average of $303.36. The company has a market capitalization of $49.68 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.73 and a quick ratio of 1.54.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 22nd. The biotechnology company reported $9.14 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the prior year, the company earned $6.98 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts anticipate that Biogen Inc will post 33.13 EPS for the current fiscal year.

A number of equities analysts have commented on the company. Citigroup lowered Biogen from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $365.00 to $240.00 in a research note on Thursday, April 23rd. Oppenheimer dropped their target price on Biogen from $390.00 to $365.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Royal Bank of Canada restated a “hold” rating and set a $310.00 target price on shares of Biogen in a research report on Thursday, April 30th. Canaccord Genuity dropped their target price on Biogen from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Finally, Barclays dropped their target price on Biogen from $389.00 to $370.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $317.46.

In other Biogen news, Director Stephen A. Sherwin sold 2,434 shares of the 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 sale, the director now directly owns 16,517 shares in the company, valued at $4,876,148.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is owned by corporate insiders.

About Biogen

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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