Biogen Inc. (NASDAQ:BIIB) Shares Sold by Missouri Trust & Investment Co

Missouri Trust & Investment Co decreased its holdings in Biogen Inc. (NASDAQ:BIIB) by 16.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,865 shares of the biotechnology company’s stock after selling 777 shares during the period. Missouri Trust & Investment Co’s holdings in Biogen were worth $591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BIIB. Ashton Thomas Securities LLC purchased a new stake in Biogen in the third quarter valued at approximately $33,000. Venturi Wealth Management LLC grew its stake in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares during the last quarter. FSA Wealth Management LLC purchased a new position in shares of Biogen in the 3rd quarter worth $74,000. Finally, TD Private Client Wealth LLC boosted its holdings in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the topic of several research analyst reports. TD Cowen reduced their price objective on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. decreased their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. BMO Capital Markets downgraded shares of Biogen from an “outperform” rating to a “market perform” rating and cut their target price for the company from $230.00 to $164.00 in a research note on Friday, December 20th. Wolfe Research initiated coverage on shares of Biogen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $300.00 target price on shares of Biogen in a research report on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $230.00.

Biogen Stock Up 0.3 %

BIIB stock opened at $140.98 on Wednesday. The firm has a fifty day moving average price of $153.64 and a two-hundred day moving average price of $183.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a 1-year low of $140.05 and a 1-year high of $252.17. The firm has a market cap of $20.54 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.61 and a beta of -0.07.

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, topping the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business earned $4.36 earnings per share. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts predict that Biogen Inc. will post 16.41 EPS 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.