FTB Advisors Inc. trimmed its stake in Biogen Inc (NASDAQ:BIIB) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,515 shares of the biotechnology company’s stock after selling 401 shares during the period. FTB Advisors Inc.’s holdings in Biogen were worth $5,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley raised its holdings in shares of Biogen by 61.1% in the 2nd quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock valued at $508,240,000 after purchasing an additional 664,096 shares in the last quarter. Mainstay Capital Management LLC ADV raised its holdings in shares of Biogen by 21,407.0% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 665,213 shares of the biotechnology company’s stock valued at $2,537,000 after purchasing an additional 662,120 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Biogen in the 3rd quarter valued at about $218,735,000. American Century Companies Inc. raised its holdings in shares of Biogen by 32.1% in the 3rd quarter. American Century Companies Inc. now owns 1,507,871 shares of the biotechnology company’s stock valued at $532,746,000 after purchasing an additional 366,361 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of Biogen in the 2nd quarter valued at about $76,080,000. 86.41% of the stock is owned by institutional investors.

Shares of Biogen stock opened at $324.05 on Monday. The company has a current ratio of 2.75, a quick ratio of 2.46 and a debt-to-equity ratio of 0.43. Biogen Inc has a 12-month low of $249.17 and a 12-month high of $388.67. The company has a market cap of $65.29 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 1.25 and a beta of 1.01.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.78 by $0.62. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the business posted $6.31 EPS. Biogen’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts forecast that Biogen Inc will post 25.79 EPS for the current year.

In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president now owns 4,281 shares in the company, valued at approximately $1,498,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

Several equities research analysts have recently commented on BIIB shares. Canaccord Genuity boosted their price target on shares of Biogen from $335.00 to $396.00 and gave the company a “buy” rating in a report on Monday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of Biogen from $400.00 to $445.00 and gave the company a “hold” rating in a report on Tuesday, July 24th. Mizuho restated a “buy” rating and issued a $423.00 price target on shares of Biogen in a report on Tuesday, July 24th. Cowen restated a “buy” rating and issued a $408.00 price target on shares of Biogen in a report on Tuesday, July 24th. Finally, ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $383.01.

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About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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