Biogen Inc. (NASDAQ:BIIB) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co decreased its position in shares of Biogen Inc. (NASDAQ:BIIBGet Rating) by 23.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 327 shares of the biotechnology company’s stock after selling 102 shares during the quarter. WASHINGTON TRUST Co’s holdings in Biogen were worth $78,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marcum Wealth LLC raised its holdings in Biogen by 78.8% during the 3rd quarter. Marcum Wealth LLC now owns 1,296 shares of the biotechnology company’s stock worth $367,000 after buying an additional 571 shares during the period. Sprucegrove Investment Management Ltd. boosted its position in shares of Biogen by 16.8% in the third quarter. Sprucegrove Investment Management Ltd. now owns 234,000 shares of the biotechnology company’s stock valued at $66,220,000 after acquiring an additional 33,600 shares during the period. Toronto Dominion Bank boosted its position in shares of Biogen by 25.4% in the third quarter. Toronto Dominion Bank now owns 108,524 shares of the biotechnology company’s stock valued at $30,711,000 after acquiring an additional 21,991 shares during the period. Fairfield Bush & CO. bought a new stake in shares of Biogen in the third quarter valued at approximately $1,981,000. Finally, Grace Capital boosted its position in shares of Biogen by 18.2% in the third quarter. Grace Capital now owns 1,300 shares of the biotechnology company’s stock valued at $351,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 83.92% of the company’s stock.

Several brokerages recently commented on BIIB. Needham & Company LLC reduced their target price on Biogen from $290.00 to $262.00 and set a “buy” rating for the company in a research report on Friday, April 8th. Guggenheim cut Biogen from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $290.00 to $202.00 in a research report on Thursday, January 13th. Truist Financial reduced their target price on Biogen from $502.00 to $343.00 and set a “buy” rating for the company in a research report on Monday, January 10th. Wells Fargo & Company raised Biogen from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $235.00 to $265.00 in a report on Monday, April 18th. Finally, Cowen cut their price objective on Biogen from $375.00 to $285.00 and set an “outperform” rating for the company in a report on Friday, February 4th. Seventeen investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Buy” and an average price target of $284.47.

BIIB stock opened at $210.10 on Thursday. The business has a 50 day moving average of $209.16 and a 200 day moving average of $229.44. The company has a quick ratio of 1.51, a current ratio of 1.83 and a debt-to-equity ratio of 0.57. Biogen Inc. has a twelve month low of $192.67 and a twelve month high of $468.55. The firm has a market cap of $30.92 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 1.29 and a beta of 0.42.

Biogen (NASDAQ:BIIBGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported $3.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.38 by ($0.76). The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Biogen had a return on equity of 26.30% and a net margin of 14.17%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business earned $5.34 earnings per share. On average, research analysts expect that Biogen Inc. will post 15.44 earnings per share for the current fiscal year.

Biogen Company Profile (Get Rating)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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