MassMutual Private Wealth & Trust FSB Reduces Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

MassMutual Private Wealth & Trust FSB lowered its holdings in Biogen Inc. (NASDAQ:BIIB) by 27.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 272 shares of the biotechnology company’s stock after selling 104 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Biogen were worth $42,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares during the period. Geode Capital Management LLC boosted its stake in shares of Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after buying an additional 47,055 shares during the last quarter. RA Capital Management L.P. grew its holdings in Biogen by 20.6% during the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after acquiring an additional 202,317 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Biogen by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after acquiring an additional 18,905 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after acquiring an additional 12,319 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays cut their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. BMO Capital Markets cut Biogen from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $230.00 to $164.00 in a report on Friday, December 20th. UBS Group dropped their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Biogen currently has a consensus rating of “Hold” and a consensus price target of $230.00.

Biogen Stock Up 1.8 %

Shares of BIIB opened at $146.20 on Friday. The stock has a fifty day simple moving average of $152.21 and a two-hundred day simple moving average of $182.52. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $21.30 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.64 and a beta of -0.07. Biogen Inc. has a 52-week low of $139.71 and a 52-week high of $251.99.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm earned $4.36 earnings per share. Biogen’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Biogen Inc. will post 16.41 EPS for the current year.

About Biogen

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.