Greenleaf Trust Buys 2,459 Shares of Biogen Inc. (NASDAQ:BIIB)

Greenleaf Trust lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 94.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,065 shares of the biotechnology company’s stock after buying an additional 2,459 shares during the period. Greenleaf Trust’s holdings in Biogen were worth $775,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Chicago Partners Investment Group LLC grew its position in Biogen by 71.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,445 shares of the biotechnology company’s stock valued at $369,000 after acquiring an additional 1,015 shares during the last quarter. Forsta AP Fonden grew its position in shares of Biogen by 47.0% in the 4th quarter. Forsta AP Fonden now owns 41,300 shares of the biotechnology company’s stock worth $6,316,000 after buying an additional 13,200 shares during the last quarter. Smith Group Asset Management LLC acquired a new position in Biogen during the 4th quarter valued at about $306,000. Robeco Institutional Asset Management B.V. increased its stake in Biogen by 48.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 408,276 shares of the biotechnology company’s stock valued at $62,434,000 after purchasing an additional 133,568 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Biogen in the fourth quarter valued at about $121,000. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BIIB. Morgan Stanley lowered Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $285.00 to $204.00 in a report on Thursday, October 31st. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Mizuho decreased their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. reduced their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Oppenheimer lowered their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Biogen presently has an average rating of “Hold” and a consensus price target of $228.80.

Biogen Stock Performance

Shares of BIIB opened at $142.49 on Wednesday. The firm has a market cap of $20.76 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.66 and a beta of -0.08. Biogen Inc. has a 12-month low of $139.71 and a 12-month high of $246.44. The company’s 50 day simple moving average is $150.47 and its 200-day simple moving average is $177.77. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

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.