Greenleaf Trust Increases Position in Biogen Inc. (NASDAQ:BIIB)

Greenleaf Trust increased its stake in Biogen Inc. (NASDAQ:BIIB) by 20.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,155 shares of the biotechnology company’s stock after purchasing an additional 365 shares during the quarter. Greenleaf Trust’s holdings in Biogen were worth $558,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in shares of Biogen by 24,726.3% during the 4th quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock worth $123,411,000 after purchasing an additional 474,992 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Biogen by 204.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 446,602 shares of the biotechnology company’s stock worth $114,781,000 after purchasing an additional 300,086 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Biogen by 24.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock worth $305,725,000 after purchasing an additional 233,889 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Biogen by 28.7% during the 3rd quarter. American Century Companies Inc. now owns 898,928 shares of the biotechnology company’s stock worth $231,033,000 after purchasing an additional 200,310 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Biogen by 19.1% during the 3rd quarter. Invesco Ltd. now owns 1,181,374 shares of the biotechnology company’s stock worth $303,625,000 after purchasing an additional 189,368 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on BIIB. StockNews.com cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Bank of America decreased their target price on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. UBS Group decreased their target price on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Robert W. Baird decreased their target price on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Finally, Oppenheimer decreased their target price on shares of Biogen from $290.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $295.58.

Biogen Trading Down 0.1 %

BIIB opened at $194.11 on Tuesday. The firm has a market capitalization of $28.22 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.85 and a beta of -0.02. The firm’s 50 day moving average is $214.22 and its 200-day moving average is $235.11. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $319.76. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the business posted $4.05 EPS. Analysts expect that Biogen Inc. will post 15.48 EPS for the current fiscal year.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by corporate insiders.

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.