Biogen Inc. (NASDAQ:BIIB) Shares Sold by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH cut its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 9.2% in the fourth quarter, HoldingsChannel reports. The firm owned 2,012 shares of the biotechnology company’s stock after selling 203 shares during the period. Trust Co. of Toledo NA OH’s holdings in Biogen were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. International Assets Investment Management LLC raised its position in shares of Biogen by 19,722.9% in the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after acquiring an additional 357,181 shares during the period. Mizuho Securities USA LLC raised its position in shares of Biogen by 2,715.9% in the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after acquiring an additional 304,778 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Biogen in the third quarter worth about $55,826,000. State Street Corp raised its position in shares of Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after acquiring an additional 248,942 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Biogen by 122.1% in the third quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock worth $82,886,000 after acquiring an additional 235,100 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

Shares of BIIB opened at $150.18 on Tuesday. Biogen Inc. has a twelve month low of $145.07 and a twelve month high of $252.17. The firm’s fifty day simple moving average is $156.92 and its 200-day simple moving average is $186.74. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.74 and a beta of -0.07. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating 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 business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $4.36 EPS. The company’s revenue was down 2.5% on a year-over-year basis. Equities analysts forecast that Biogen Inc. will post 16.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on BIIB. Wells Fargo & Company reduced their price target on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday. Wolfe Research began coverage on shares of Biogen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Robert W. Baird upped their price target on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday. Finally, Wedbush reduced their price target on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $230.00.

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.