Biogen Inc. (NASDAQ:BIIB) Shares Sold by Central Bank & Trust Co.

Central Bank & Trust Co. decreased its position in Biogen Inc. (NASDAQ:BIIB) by 40.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,045 shares of the biotechnology company’s stock after selling 712 shares during the period. Central Bank & Trust Co.’s holdings in Biogen were worth $242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Leo Wealth LLC acquired a new stake in Biogen in the fourth quarter valued at $2,265,000. Duality Advisers LP acquired a new stake in Biogen in the 1st quarter valued at about $1,290,000. Tocqueville Asset Management L.P. increased its holdings in Biogen by 924.4% during the 1st quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock valued at $9,962,000 after acquiring an additional 41,690 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Biogen by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock worth $83,337,000 after acquiring an additional 3,380 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Biogen by 235.1% in the first quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after purchasing an additional 10,425 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Scotiabank cut their price objective on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price target on Biogen from $282.00 to $292.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Mizuho decreased their target price on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Truist Financial reaffirmed a “buy” rating and set a $302.00 price target (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. Finally, StockNews.com raised Biogen from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $276.35.

Biogen Stock Performance

Shares of NASDAQ BIIB traded up $3.21 during mid-day trading on Monday, hitting $205.12. The company had a trading volume of 266,162 shares, compared to its average volume of 1,128,627. The stock has a market cap of $29.86 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.09 and a beta of -0.04. The firm’s 50 day simple moving average is $220.20 and its two-hundred day simple moving average is $219.56. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.32. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $270.50.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the business posted $4.02 EPS. Biogen’s revenue was up .4% on a year-over-year basis. As a group, equities research analysts forecast that Biogen Inc. will post 15.87 earnings per share for the current year.

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.