Whittier Trust Co. of Nevada Inc. Sells 77 Shares of Biogen Inc. (NASDAQ:BIIB)

Whittier Trust Co. of Nevada Inc. reduced its position in Biogen Inc. (NASDAQ:BIIB) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,832 shares of the biotechnology company’s stock after selling 77 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Biogen were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Inspire Trust Co. N.A. lifted its holdings in shares of Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after buying an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after buying an additional 111 shares in the last quarter. Centre Asset Management LLC lifted its holdings in shares of Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 3,698 shares in the last quarter. Amundi lifted its holdings in shares of Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after buying an additional 319,478 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after buying an additional 12,319 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BIIB. Morgan Stanley decreased their price target on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Truist Financial decreased their price target on shares of Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group decreased their price target on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and decreased their price target for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, Citigroup decreased their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Biogen presently has an average rating of “Hold” and a consensus target price of $213.33.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

Biogen Stock Down 0.3 %

Shares of Biogen stock opened at $140.90 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The firm’s 50-day moving average is $142.16 and its two-hundred day moving average is $162.11. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.