Biogen Inc. (NASDAQ:BIIB) Shares Sold by Private Trust Co. NA

Private Trust Co. NA decreased its holdings in Biogen Inc. (NASDAQ:BIIB) by 47.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 251 shares of the biotechnology company’s stock after selling 226 shares during the quarter. Private Trust Co. NA’s holdings in Biogen were worth $49,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Primecap Management Co. CA raised its position in shares of Biogen by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after purchasing an additional 117,578 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after acquiring an additional 12,319 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Biogen by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock valued at $137,856,000 after acquiring an additional 162,511 shares in the last quarter. abrdn plc grew its holdings in Biogen by 6.2% during the 3rd quarter. abrdn plc now owns 568,510 shares of the biotechnology company’s stock worth $110,123,000 after acquiring an additional 33,333 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Biogen by 0.4% in the 3rd quarter. Swiss National Bank now owns 432,100 shares of the biotechnology company’s stock worth $83,758,000 after purchasing an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BIIB. Citigroup assumed coverage on shares of Biogen in a research report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price target on the stock. UBS Group lowered their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada reduced their price objective on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. StockNews.com upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Finally, Wolfe Research began coverage on shares of Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.20.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $160.63 on Friday. Biogen Inc. has a 1 year low of $153.62 and a 1 year high of $268.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The stock has a fifty day moving average price of $177.86 and a two-hundred day moving average price of $202.99. The firm has a market cap of $23.41 billion, a P/E ratio of 14.51, a PEG ratio of 1.51 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $4.36 earnings per share. Biogen’s revenue was down 2.5% compared to the same quarter last year. Research analysts forecast that Biogen Inc. will post 16.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

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.