Biogen Inc. (NASDAQ:BIIB) Shares Sold by Trust Co. of Vermont

Trust Co. of Vermont lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 51.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,069 shares of the biotechnology company’s stock after selling 1,116 shares during the period. Trust Co. of Vermont’s holdings in Biogen were worth $248,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Leo Wealth LLC acquired a new position in Biogen during the fourth quarter worth $2,265,000. Everence Capital Management Inc. grew its holdings in Biogen by 26.6% during the fourth quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock worth $1,294,000 after acquiring an additional 1,050 shares during the period. Duality Advisers LP acquired a new position in Biogen during the first quarter worth $1,290,000. Tocqueville Asset Management L.P. grew its holdings in Biogen by 924.4% during the first quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock worth $9,962,000 after acquiring an additional 41,690 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Biogen by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock worth $83,337,000 after purchasing an additional 3,380 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Up 0.1 %

Shares of BIIB stock traded up $0.13 during trading hours on Wednesday, reaching $200.26. The company had a trading volume of 238,694 shares, compared to its average volume of 1,146,379. 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 Inc. has a twelve month low of $189.44 and a twelve month high of $278.95. The company has a market capitalization of $29.16 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 2.09 and a beta of -0.04. The stock’s fifty day simple moving average is $224.24 and its 200 day simple moving average is $222.12.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the firm earned $4.02 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, sell-side analysts expect that Biogen Inc. will post 15.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on BIIB shares. StockNews.com upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada upped their price objective on Biogen from $282.00 to $292.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Truist Financial restated a “buy” rating and issued a $302.00 price objective (down from $340.00) on shares of Biogen in a research report on Monday. Bank of America reduced their price objective on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, HC Wainwright restated a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, May 23rd. Nine research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.