FineMark National Bank & Trust Has $227,000 Stake in Biogen Inc. (NASDAQ:BIIB)

FineMark National Bank & Trust lowered its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,486 shares of the biotechnology company’s stock after selling 121 shares during the period. FineMark National Bank & Trust’s holdings in Biogen were worth $227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIIB. Larson Financial Group LLC increased its stake in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares during the period. Lee Danner & Bass Inc. bought a new stake in shares of Biogen in the 4th quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new position in shares of Biogen in the 4th quarter worth approximately $32,000. SRS Capital Advisors Inc. bought a new position in shares of Biogen during the 4th quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in Biogen in the 4th quarter valued at $41,000. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BIIB. Truist Financial dropped their price objective on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company dropped their target price on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Bank of America restated a “neutral” rating and issued a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Bank Of America (Bofa) dropped their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Canaccord Genuity Group decreased their price target on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $213.33.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by insiders.

Biogen Trading Up 2.3 %

BIIB opened at $142.43 on Thursday. The firm’s fifty day moving average is $141.94 and its two-hundred day moving average is $160.82. The firm has a market cap of $20.85 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Equities research analysts anticipate 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.