M&T Bank Corp Has $2.22 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

M&T Bank Corp decreased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 10.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,509 shares of the biotechnology company’s stock after selling 1,724 shares during the quarter. M&T Bank Corp’s holdings in Biogen were worth $2,218,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its position in shares of 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 last quarter. Geode Capital Management LLC increased its position in shares of Biogen by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after purchasing an additional 47,055 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. RA Capital Management L.P. increased its position in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after purchasing an additional 202,317 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Biogen by 1.7% during the 3rd 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 worth $223,438,000 after purchasing an additional 18,905 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Biogen stock opened at $150.38 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The stock has a market capitalization of $22.01 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The stock has a fifty day moving average of $143.98 and a 200-day moving average of $166.18.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BMO Capital Markets reduced their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Robert W. Baird lifted their target price on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Bank of America reiterated a “neutral” rating and set a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. Royal Bank of Canada reduced their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Citigroup reduced their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.