Bank of New York Mellon Corp Has $149.07 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

Bank of New York Mellon Corp reduced its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 974,795 shares of the biotechnology company's stock after selling 28,340 shares during the period. Bank of New York Mellon Corp owned about 0.67% of Biogen worth $149,066,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Grandfield & Dodd LLC boosted its stake in shares of Biogen by 5.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company's stock valued at $244,000 after purchasing an additional 62 shares in the last quarter. Quintet Private Bank Europe S.A. raised its position in shares of Biogen by 9.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company's stock worth $138,000 after acquiring an additional 63 shares during the last quarter. Quent Capital LLC lifted its stake in shares of Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock valued at $46,000 after acquiring an additional 72 shares during the period. TD Private Client Wealth LLC boosted its holdings in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company's stock valued at $75,000 after acquiring an additional 77 shares during the last quarter. Finally, Principal Securities Inc. increased its position in Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 78 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Biogen from $220.00 to $210.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Citigroup decreased their price objective on Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Piper Sandler restated a "neutral" rating and set a $135.00 target price (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Robert W. Baird boosted their target price on Biogen from $294.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. Finally, Sanford C. Bernstein began coverage on shares of Biogen in a research report on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 price target on the stock. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $213.33.

Biogen Stock Performance

Shares of BIIB stock traded up $0.06 during midday trading on Tuesday, hitting $141.77. 1,811,551 shares of the company were exchanged, compared to its average volume of 1,478,056. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The firm has a market capitalization of $20.75 billion, a P/E ratio of 12.68, a PEG ratio of 1.51 and a beta of -0.08. The firm's 50 day moving average price is $144.28 and its two-hundred day moving average price is $167.83. 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 (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen Company 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.