Grimes & Company Inc. Has $9.20 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Grimes & Company Inc. decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 0.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 47,467 shares of the biotechnology company’s stock after selling 273 shares during the period. Grimes & Company Inc.’s holdings in Biogen were worth $9,201,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Biogen by 15.0% in the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after purchasing an additional 2,163,068 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Biogen by 0.7% in the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after purchasing an additional 117,578 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Biogen by 22.2% in the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock valued at $374,623,000 after purchasing an additional 316,144 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Biogen by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock valued at $342,772,000 after buying an additional 81,283 shares during the period. Finally, RA Capital Management L.P. grew its position in Biogen by 39.0% during the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after buying an additional 207,835 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BIIB. 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 report on Monday, September 23rd. Truist Financial reiterated a “buy” rating and set a $302.00 target price (down from $340.00) on shares of Biogen in a research report on Monday, August 5th. Scotiabank lowered their price objective on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company decreased their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Raymond James reissued a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and an average target price of $271.39.

Biogen Stock Up 1.2 %

BIIB traded up $2.24 on Thursday, hitting $185.22. The company had a trading volume of 67,484 shares, compared to its average volume of 1,114,598. The stock has a fifty day moving average price of $196.04 and a 200-day moving average price of $210.47. Biogen Inc. has a 12-month low of $181.31 and a 12-month high of $268.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The stock has a market capitalization of $26.97 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 1.87 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the firm earned $4.02 EPS. Analysts predict that Biogen Inc. will post 16.13 EPS for the current fiscal year.

Insider Activity

In other Biogen 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 value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

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.