Missouri Trust & Investment Co increased its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 63.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,325 shares of the biotechnology company's stock after purchasing an additional 2,460 shares during the quarter. Missouri Trust & Investment Co's holdings in Biogen were worth $866,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in BIIB. Opal Wealth Advisors LLC bought a new position in shares of Biogen during the 1st quarter valued at $26,000. Wealth Enhancement Advisory Services LLC increased its position in Biogen by 15.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,049 shares of the biotechnology company's stock valued at $2,607,000 after acquiring an additional 2,606 shares during the last quarter. CVA Family Office LLC lifted its holdings in Biogen by 71.1% in the first quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 96 shares during the period. NorthCrest Asset Manangement LLC boosted its position in Biogen by 6.6% in the first quarter. NorthCrest Asset Manangement LLC now owns 34,532 shares of the biotechnology company's stock worth $4,725,000 after purchasing an additional 2,126 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Biogen by 69.1% during the 1st quarter. Fifth Third Bancorp now owns 5,489 shares of the biotechnology company's stock valued at $751,000 after purchasing an additional 2,243 shares during the period. Institutional investors own 87.93% of the company's stock.
Biogen Stock Performance
NASDAQ BIIB opened at $130.65 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. The business has a 50 day simple moving average of $123.75 and a two-hundred day simple moving average of $137.42. The stock has a market capitalization of $19.14 billion, a PE ratio of 11.68, a P/E/G ratio of 1.51 and a beta of 0.14.
Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). The business had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $3.67 earnings per share. On average, research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on BIIB shares. Piper Sandler reiterated a "neutral" rating and issued a $115.00 price objective on shares of Biogen in a research note on Thursday. Oppenheimer set a $205.00 target price on shares of Biogen in a report on Friday, May 2nd. Morgan Stanley dropped their price target on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada reduced their price objective on Biogen from $217.00 to $205.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Argus lowered Biogen from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $188.19.
Check Out Our Latest Stock Report on Biogen
Biogen Profile
(
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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