US Bancorp DE Boosts Stock Position in Biogen Inc. (NASDAQ:BIIB)

by · The Cerbat Gem

US Bancorp DE raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 35.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,946 shares of the biotechnology company’s stock after purchasing an additional 6,743 shares during the period. US Bancorp DE’s holdings in Biogen were worth $3,550,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Colonial Trust Co SC boosted its stake in Biogen by 9,300.0% during the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 186 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in Biogen during the 1st quarter valued at $26,000. Private Trust Co. NA boosted its stake in Biogen by 74.8% during the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 98 shares during the last quarter. CVA Family Office LLC boosted its stake in Biogen by 71.1% during the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 96 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in Biogen during the 1st quarter valued at $35,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Up 0.5%

Shares of NASDAQ:BIIB opened at $132.89 on Wednesday. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $207.59. The business has a 50 day simple moving average of $130.06 and a two-hundred day simple moving average of $131.64. The firm has a market capitalization of $19.48 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.04 and a beta of 0.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79.

Biogen (NASDAQ:BIIB – Get Free Report) last announced its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the business earned $5.28 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on BIIB. HSBC downgraded Biogen from a “buy” rating to a “hold” rating and set a $118.00 target price on the stock. in a research note on Monday, April 28th. Wall Street Zen upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial started coverage on Biogen in a research note on Monday, July 21st. They issued a “hold” rating and a $142.00 price target on the stock. Citigroup raised their price target on Biogen from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Finally, The Goldman Sachs Group dropped their price target on Biogen from $219.00 to $197.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Twenty-one research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Hold” and a consensus price target of $185.63.

Get Our Latest Analysis on BIIB

Insider Activity

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the transaction, the insider owned 6,330 shares in the company, valued at $854,550. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by company insiders.

About Biogen

(Free Report)

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.

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