Sector Gamma AS Sells 62,700 Shares of Biogen Inc (NASDAQ:BIIB)

Sector Gamma AS lessened its position in shares of Biogen Inc (NASDAQ:BIIB) by 54.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,426 shares of the biotechnology company’s stock after selling 62,700 shares during the period. Biogen makes up about 2.1% of Sector Gamma AS’s portfolio, making the stock its 18th largest holding. Sector Gamma AS’s holdings in Biogen were worth $12,206,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Auxier Asset Management lifted its holdings in shares of Biogen by 3.7% during the 2nd quarter. Auxier Asset Management now owns 27,217 shares of the biotechnology company’s stock worth $6,365,000 after acquiring an additional 960 shares during the period. Cornerstone Advisors Inc. lifted its stake in Biogen by 6.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,427 shares of the biotechnology company’s stock valued at $334,000 after purchasing an additional 84 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Biogen by 12.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,638 shares of the biotechnology company’s stock valued at $19,327,000 after purchasing an additional 9,094 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Biogen by 64.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,157 shares of the biotechnology company’s stock valued at $1,674,000 after purchasing an additional 2,803 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Biogen in the 2nd quarter valued at approximately $41,118,000. 88.52% of the stock is owned by institutional investors.

NASDAQ BIIB traded up $6.38 on Friday, hitting $293.25. The company’s stock had a trading volume of 1,476,900 shares, compared to its average volume of 1,920,335. Biogen Inc has a 1-year low of $215.77 and a 1-year high of $344.00. The company’s 50-day moving average is $251.07 and its 200 day moving average is $236.17. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.35. The firm has a market cap of $52.72 billion, a PE ratio of 11.19, a PEG ratio of 1.58 and a beta of 1.07.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.27 by $0.90. Biogen had a net margin of 37.91% and a return on equity of 46.14%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the company posted $7.40 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Biogen Inc will post 33.19 EPS for the current year.

Several equities analysts recently commented on BIIB shares. Oppenheimer set a $280.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada set a $242.00 price objective on shares of Biogen and gave the company a “hold” rating in a research note on Friday, September 6th. BidaskClub downgraded shares of Biogen from a “hold” rating to a “sell” rating in a research note on Friday. Sanford C. Bernstein raised shares of Biogen from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Biogen from $244.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $288.33.

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.

Read More: Asset Allocation

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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