Checchi Capital Advisers LLC reduced its stake in shares of Biogen Inc (NASDAQ:BIIB) by 5.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,611 shares of the biotechnology company’s stock after selling 89 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Biogen were worth $381,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BIIB. Northwest Wealth Management LLC boosted its holdings in shares of Biogen by 188.9% during the first quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 68 shares during the period. Portfolio Solutions LLC purchased a new stake in Biogen in the fourth quarter worth about $26,000. Private Ocean LLC purchased a new stake in Biogen in the first quarter worth about $31,000. Doyle Wealth Management purchased a new stake in Biogen in the fourth quarter worth about $32,000. Finally, Somerset Trust Co lifted its holdings in Biogen by 150.0% in the first quarter. Somerset Trust Co now owns 140 shares of the biotechnology company’s stock worth $33,000 after buying an additional 84 shares during the period. 88.33% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BIIB opened at $229.11 on Friday. The company has a market cap of $45.16 billion, a P/E ratio of 8.74, a PEG ratio of 1.04 and a beta of 1.01. The company has a quick ratio of 2.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.43. Biogen Inc has a twelve month low of $216.12 and a twelve month high of $388.67.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.88 by $0.10. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.38 billion. Biogen had a net margin of 33.79% and a return on equity of 41.39%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $6.05 earnings per share. On average, sell-side analysts anticipate that Biogen Inc will post 29.58 EPS for the current fiscal year.

In related news, Director Alexander J. Denner bought 50,342 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was acquired at an average price of $229.25 per share, with a total value of $11,540,903.50. Following the transaction, the director now owns 10,909 shares in the company, valued at approximately $2,500,888.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Pangia sold 6,114 shares of Biogen stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $328.55, for a total transaction of $2,008,754.70. Following the completion of the sale, the director now directly owns 24,701 shares of the company’s stock, valued at approximately $8,115,513.55. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 173,035 shares of company stock valued at $39,759,632. 0.29% of the stock is currently owned by insiders.

Several brokerages have commented on BIIB. Argus restated a “hold” rating on shares of Biogen in a report on Tuesday, May 7th. Citigroup restated a “neutral” rating on shares of Biogen in a report on Thursday. Wedbush began coverage on shares of Biogen in a report on Wednesday. They issued a “neutral” rating and a $231.00 price objective for the company. Cantor Fitzgerald restated a “hold” rating and issued a $250.00 price objective on shares of Biogen in a report on Wednesday, March 27th. Finally, Credit Suisse Group began coverage on shares of Biogen in a report on Monday. They issued an “underperform” rating and a $198.00 price objective for the company. Three analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $283.23.

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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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