Biogen Inc. (NASDAQ:BIIB) Shares Sold by Bokf Na

Bokf Na lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 24.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,798 shares of the biotechnology company’s stock after selling 8,556 shares during the period. Bokf Na’s holdings in Biogen were worth $5,542,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. KCM Investment Advisors LLC grew its stake in Biogen by 1.7% during the 1st quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock valued at $637,000 after purchasing an additional 48 shares in the last quarter. Quent Capital LLC grew its stake in Biogen by 17.0% during the 4th quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 49 shares in the last quarter. Massachusetts Wealth Management grew its stake in Biogen by 1.6% during the 4th quarter. Massachusetts Wealth Management now owns 3,250 shares of the biotechnology company’s stock valued at $841,000 after purchasing an additional 50 shares in the last quarter. TFB Advisors LLC grew its stake in Biogen by 2.1% during the 1st quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock valued at $530,000 after purchasing an additional 50 shares in the last quarter. Finally, DGS Capital Management LLC grew its stake in Biogen by 4.2% during the 4th quarter. DGS Capital Management LLC now owns 1,265 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Biogen stock traded down $16.27 during mid-day trading on Friday, hitting $211.17. 2,256,077 shares of the company’s stock traded hands, compared to its average volume of 868,124. The firm has a 50 day moving average price of $226.29 and a 200 day moving average price of $224.29. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The company has a market cap of $30.75 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.13 and a beta of -0.04. Biogen Inc. has a one year low of $189.44 and a one year high of $278.95.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.40 EPS. On average, equities analysts forecast that Biogen Inc. will post 15.61 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on BIIB shares. Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price on shares of Biogen in a research report on Monday, April 29th. Piper Sandler decreased their target price on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $317.00 target price on shares of Biogen in a research report on Wednesday, June 26th. Bank of America decreased their target price on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, HSBC lifted their target price on Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $284.22.

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.