Toronto Dominion Bank Has $19.30 Million Position in Biogen Inc. (NASDAQ:BIIB)

Toronto Dominion Bank decreased its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 13.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,248 shares of the biotechnology company's stock after selling 12,436 shares during the quarter. Toronto Dominion Bank owned about 0.06% of Biogen worth $19,299,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BIIB. Plato Investment Management Ltd increased 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 purchasing an additional 53 shares in the last quarter. Livelsberger Financial Advisory bought a new position in Biogen during the 4th quarter worth about $26,000. Rise Advisors LLC acquired a new stake in shares of Biogen in the 1st quarter valued at about $27,000. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen in the second quarter valued at about $33,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Biogen during the first quarter worth about $36,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Stock Performance

Shares of NASDAQ BIIB traded up $1.07 during trading hours on Friday, reaching $194.67. 707,654 shares of the stock were exchanged, compared to its average volume of 1,107,992. The stock's fifty day simple moving average is $204.76 and its 200 day simple moving average is $214.29. The firm has a market capitalization of $28.34 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.97 and a beta of -0.06. Biogen Inc. has a 52 week low of $188.78 and a 52 week high of $269.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the firm earned $4.02 earnings per share. The company's revenue was up .4% on a year-over-year basis. Sell-side analysts predict that Biogen Inc. will post 16.12 EPS for the current year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company's stock, valued at $1,085,633.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BIIB shares. William Blair restated an "outperform" rating on shares of Biogen in a research note on Wednesday, July 3rd. Wedbush lowered their price target on shares of Biogen from $210.00 to $205.00 and set a "neutral" rating on the stock in a research note on Monday. Robert W. Baird reduced their price objective on shares of Biogen from $316.00 to $294.00 and set an "outperform" rating for the company in a research note on Monday, July 29th. StockNews.com upgraded Biogen from a "buy" rating to a "strong-buy" rating in a report on Monday, September 2nd. Finally, Truist Financial restated a "buy" rating and issued a $302.00 price target (down from $340.00) on shares of Biogen in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Biogen has an average rating of "Moderate Buy" and an average price target of $275.30.

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.