US Bancorp DE Sells 1,011 Shares of Biogen Inc. (NASDAQ:BIIB)

US Bancorp DE reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,203 shares of the biotechnology company’s stock after selling 1,011 shares during the period. US Bancorp DE’s holdings in Biogen were worth $2,937,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BIIB. Asset Management One Co. Ltd. boosted its stake in Biogen by 0.6% during the third quarter. Asset Management One Co. Ltd. now owns 55,355 shares of the biotechnology company’s stock valued at $10,730,000 after buying an additional 324 shares during the period. Catalyst Capital Advisors LLC boosted its stake in Biogen by 321.8% during the third quarter. Catalyst Capital Advisors LLC now owns 599 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 457 shares during the period. Principal Financial Group Inc. boosted its stake in Biogen by 3.2% during the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after buying an additional 5,270 shares during the period. AIA Group Ltd boosted its stake in Biogen by 10.6% during the third quarter. AIA Group Ltd now owns 1,411 shares of the biotechnology company’s stock valued at $274,000 after buying an additional 135 shares during the period. Finally, Baker Avenue Asset Management LP bought a new stake in Biogen during the third quarter valued at $241,000. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 2.5 %

Shares of NASDAQ:BIIB opened at $147.37 on Friday. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The company has a market cap of $21.57 billion, a PE ratio of 13.17, a P/E/G ratio of 1.51 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The stock’s 50-day moving average is $144.00 and its 200 day moving average is $167.11.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Ratings Changes

BIIB has been the subject of several research analyst reports. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Royal Bank of Canada dropped their price target on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company dropped their price target on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Finally, Wolfe Research initiated coverage on Biogen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $213.33.

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.