Biogen Inc. (NASDAQ:BIIB) Shares Bought by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 48.3% during the second quarter, HoldingsChannel reports. The firm owned 494 shares of the biotechnology company’s stock after buying an additional 161 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Biogen were worth $115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd increased its position in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in Biogen in the fourth quarter valued at about $26,000. Rise Advisors LLC bought a new stake in Biogen in the first quarter valued at about $27,000. Hexagon Capital Partners LLC increased its holdings in Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 51 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Biogen in the first quarter valued at about $36,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ BIIB traded up $1.74 during trading on Tuesday, hitting $200.13. The company had a trading volume of 1,125,210 shares, compared to its average volume of 1,151,517. The company has a market cap of $29.14 billion, a P/E ratio of 25.09, a PEG ratio of 2.09 and a beta of -0.04. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $278.95. The business’s 50-day moving average is $224.62 and its 200 day moving average is $222.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.32 and a current ratio of 2.29.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the company earned $4.02 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. Equities research analysts predict that Biogen Inc. will post 15.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BIIB shares. William Blair reissued an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Mizuho decreased their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research note on Tuesday. UBS Group decreased their target price on Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Wedbush decreased their target price on Biogen from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday. Finally, HSBC lifted their target price on Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Nine analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $276.42.

About Biogen

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.