Biogen Inc. (NASDAQ:BIIB) Holdings Decreased by US Bancorp DE

US Bancorp DE reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 15.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,214 shares of the biotechnology company’s stock after selling 3,755 shares during the quarter. US Bancorp DE’s holdings in Biogen were worth $3,918,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BIIB. Plato Investment Management Ltd grew its stake in Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Biogen during the 2nd quarter worth $33,000. EntryPoint Capital LLC bought a new position in Biogen during the 1st quarter worth $36,000. Versant Capital Management Inc grew its stake in shares of Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 85 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 127 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Performance

Shares of BIIB stock opened at $173.52 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 1.48. Biogen Inc. has a fifty-two week low of $170.71 and a fifty-two week high of $268.30. The stock’s 50-day moving average is $192.09 and its two-hundred day moving average is $209.47. The firm has a market cap of $25.29 billion, a P/E ratio of 15.67, a PEG ratio of 1.73 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last issued its earnings results 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 return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the firm posted $4.36 EPS. The business’s revenue was down 2.5% compared to the same quarter last year. Analysts predict that Biogen Inc. will post 16.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wedbush decreased their price target on Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Scotiabank decreased their price target on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. Piper Sandler decreased their price target on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company cut their price objective on Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Oppenheimer cut their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Ten 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $261.58.

Insider Activity

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

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.