Missouri Trust & Investment Co Acquires 760 Shares of Biogen Inc. (NASDAQ:BIIB)

Missouri Trust & Investment Co raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 19.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,642 shares of the biotechnology company’s stock after buying an additional 760 shares during the period. Missouri Trust & Investment Co’s holdings in Biogen were worth $900,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. American Assets Inc. acquired a new position in Biogen in the 3rd quarter valued at $388,000. Aigen Investment Management LP bought a new stake in Biogen during the third quarter valued at about $682,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Biogen by 2.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 370,128 shares of the biotechnology company’s stock worth $71,746,000 after purchasing an additional 9,254 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Biogen by 25.0% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 15,742 shares of the biotechnology company’s stock worth $3,051,000 after purchasing an additional 3,145 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Biogen by 44.6% during the 3rd quarter. GSA Capital Partners LLP now owns 4,407 shares of the biotechnology company’s stock valued at $854,000 after purchasing an additional 1,359 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of research analyst reports. Mizuho cut their price target on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. BMO Capital Markets decreased their price target on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Barclays cut their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. StockNews.com upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Finally, Truist Financial reissued a “buy” rating and issued a $302.00 target price (down from $340.00) on shares of Biogen in a report on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average price target of $261.58.

Biogen Stock Down 0.4 %

BIIB stock traded down $0.73 during trading hours on Tuesday, reaching $171.30. 158,168 shares of the stock were exchanged, compared to its average volume of 1,150,091. The firm’s 50-day moving average is $189.06 and its 200-day moving average is $208.65. Biogen Inc. has a 12 month low of $170.50 and a 12 month high of $268.30. The company has a market cap of $24.96 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.64 and a beta of -0.06. 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 (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm earned $4.36 EPS. Biogen’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities research analysts expect that Biogen Inc. will post 16.4 earnings per share 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.