TIAA Trust National Association Grows Stock Position in Biogen Inc. (NASDAQ:BIIB)

TIAA Trust National Association raised its position in Biogen Inc. (NASDAQ:BIIB) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,575 shares of the biotechnology company’s stock after buying an additional 108 shares during the quarter. TIAA Trust National Association’s holdings in Biogen were worth $547,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Lee Danner & Bass Inc. bought a new stake in Biogen in the 4th quarter valued at about $25,000. Larson Financial Group LLC increased its stake in shares of Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of Biogen in the fourth quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new stake in shares of Biogen during the 4th quarter valued at approximately $32,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and dropped their target price for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. HC Wainwright dropped their price objective on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Scotiabank cut their target price on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Finally, BMO Capital Markets cut their price objective on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $213.33.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $140.33 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $141.92 and a 200-day moving average price of $160.68. The company has a market cap of $20.54 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling

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

Biogen Company 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.