Commerce Bank cut its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 28.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,085 shares of the biotechnology company's stock after selling 2,830 shares during the quarter. Commerce Bank's holdings in Biogen were worth $1,083,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Lee Danner & Bass Inc. bought a new stake in shares of Biogen during the 4th quarter valued at approximately $25,000. Larson Financial Group LLC increased its holdings in shares of Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after buying an additional 141 shares in the last quarter. SRS Capital Advisors Inc. acquired a new position in shares of Biogen during the fourth quarter worth $33,000. OFI Invest Asset Management acquired a new stake in shares of Biogen during the 4th quarter valued at $32,000. Finally, Golden State Wealth Management LLC bought a new stake in Biogen during the 4th quarter worth $41,000. Institutional investors and hedge funds own 87.93% of the company's stock.
Analysts Set New Price Targets
Several research firms have commented on BIIB. BMO Capital Markets dropped their target price on Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research report on Thursday, February 13th. Truist Financial cut their target price on shares of Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada boosted their target price on shares of Biogen from $221.00 to $225.00 and gave the stock an "outperform" rating in a report on Tuesday. Piper Sandler reiterated a "neutral" rating and set a $135.00 price target (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Finally, Scotiabank decreased their price objective on Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a report on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Biogen has an average rating of "Hold" and an average target price of $213.15.
Get Our Latest Stock Analysis on BIIB
Insiders Place Their Bets
In other news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company's stock.
Biogen Stock Up 2.1 %
Shares of NASDAQ BIIB opened at $118.89 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a 50-day moving average price of $133.56 and a 200-day moving average price of $150.49. The stock has a market capitalization of $17.40 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.51 and a beta of 0.06. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00.
Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 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, equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.
Biogen Profile
(
Free Report)
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.
Further Reading
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