Trust Co. of Toledo NA OH Increases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Trust Co. of Toledo NA OH lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,209 shares of the biotechnology company’s stock after acquiring an additional 222 shares during the period. Trust Co. of Toledo NA OH’s holdings in Biogen were worth $512,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC grew its holdings in Biogen by 68.6% in the 4th quarter. Global Retirement Partners LLC now owns 263 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 107 shares during the period. Ballentine Partners LLC grew its holdings in shares of Biogen by 7.9% during the 4th quarter. Ballentine Partners LLC now owns 1,649 shares of the biotechnology company’s stock worth $427,000 after purchasing an additional 121 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Biogen by 24,726.3% during the 4th quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock worth $123,411,000 after purchasing an additional 474,992 shares during the period. Prime Capital Investment Advisors LLC purchased a new stake in shares of Biogen during the 4th quarter worth about $3,674,000. Finally, Tritonpoint Wealth LLC purchased a new stake in shares of Biogen during the 4th quarter worth about $523,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on BIIB shares. JPMorgan Chase & Co. reduced their price target on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. StockNews.com raised Biogen from a “hold” rating to a “buy” rating in a research report on Monday. UBS Group cut their target price on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Wedbush lowered their price target on Biogen from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Friday. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd. Nine equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and a consensus target price of $276.42.

Biogen Trading Up 0.9 %

Shares of BIIB stock traded up $1.74 during mid-day trading on Tuesday, hitting $200.13. The company’s stock had a trading volume of 1,262,133 shares, compared to its average volume of 1,152,426. The company’s fifty day simple moving average is $224.62 and its 200-day simple moving average is $222.47. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $278.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.32 and a current ratio of 2.29. The company has a market cap of $29.14 billion, a PE ratio of 24.99, a P/E/G ratio of 2.09 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping 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 firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the company posted $4.02 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities research analysts expect that Biogen Inc. will post 15.87 earnings per share for the current fiscal 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.