Biogen Inc. (NASDAQ:BIIB) Shares Sold by Private Trust Co. NA

Private Trust Co. NA lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 47.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 251 shares of the biotechnology company’s stock after selling 226 shares during the period. Private Trust Co. NA’s holdings in Biogen were worth $49,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BIIB. International Assets Investment Management LLC grew its stake in shares of Biogen by 19,722.9% during the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after purchasing an additional 357,181 shares during the period. Mizuho Securities USA LLC grew its position in Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after buying an additional 304,778 shares during the period. Massachusetts Financial Services Co. MA grew its position in Biogen by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock worth $137,856,000 after buying an additional 162,511 shares during the period. Primecap Management Co. CA increased its holdings in Biogen by 0.7% in the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after buying an additional 117,578 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Biogen during the 2nd quarter valued at approximately $22,867,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $300.00 price target on shares of Biogen in a report on Thursday, October 31st. BMO Capital Markets dropped their price target on Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Citigroup started coverage on shares of Biogen in a research report on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price objective on the stock. TD Cowen dropped their target price on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Wolfe Research started coverage on shares of Biogen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $257.20.

Insider Activity

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Biogen Price Performance

Shares of Biogen stock opened at $160.63 on Friday. The business’s fifty day moving average price is $177.86 and its 200 day moving average price is $202.99. Biogen Inc. has a twelve month low of $153.62 and a twelve month high of $268.30. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $23.41 billion, a P/E ratio of 14.51, a PEG ratio of 1.51 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.36 EPS. As a group, research analysts anticipate that Biogen Inc. will post 16.44 earnings per share for the current year.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.