Biogen Inc. (NASDAQ:BIIB) Holdings Cut by Greenleaf Trust

Greenleaf Trust decreased its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 41.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,955 shares of the biotechnology company's stock after selling 2,110 shares during the quarter. Greenleaf Trust's holdings in Biogen were worth $404,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. DekaBank Deutsche Girozentrale raised its holdings in shares of Biogen by 0.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 109,198 shares of the biotechnology company's stock valued at $14,963,000 after purchasing an additional 477 shares in the last quarter. Personal CFO Solutions LLC raised its holdings in shares of Biogen by 31.2% during the 1st quarter. Personal CFO Solutions LLC now owns 2,027 shares of the biotechnology company's stock valued at $277,000 after purchasing an additional 482 shares in the last quarter. Blackhawk Capital Partners LLC. bought a new position in Biogen in the 1st quarter worth $382,000. ARGA Investment Management LP raised its holdings in Biogen by 17.0% in the 1st quarter. ARGA Investment Management LP now owns 4,133 shares of the biotechnology company's stock worth $566,000 after acquiring an additional 601 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Biogen by 12.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 52,294 shares of the biotechnology company's stock worth $7,156,000 after acquiring an additional 5,926 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Analysts Set New Price Targets

BIIB has been the topic of several recent analyst reports. Truist Financial dropped their target price on shares of Biogen from $210.00 to $199.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Hsbc Global Res downgraded shares of Biogen from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. HSBC lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price target on the stock. in a research report on Monday, April 28th. Mizuho decreased their price target on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Wedbush restated a "neutral" rating and issued a $121.00 price target on shares of Biogen in a research report on Thursday, June 12th. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $188.48.

Biogen Stock Down 0.8%

Shares of NASDAQ BIIB opened at $134.21 on Friday. The stock has a market cap of $19.67 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.07 and a beta of 0.14. The firm has a 50 day moving average price of $128.17 and a 200 day moving average price of $133.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.44. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $236.48.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. Biogen had a net margin of 15.07% and a return on equity of 14.03%. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.67 EPS. Analysts expect that Biogen Inc. will post 15.83 EPS 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.

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