12,849 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by Farmers Trust Co.

Farmers Trust Co. acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,849 shares of the biotechnology company’s stock, valued at approximately $1,965,000.

Other large investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in Biogen in the 2nd quarter valued at $33,000. Ashton Thomas Securities LLC bought a new position in shares of Biogen during the third quarter valued at $33,000. Venturi Wealth Management LLC boosted its stake in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Biogen in the 3rd quarter worth about $74,000. Finally, TD Private Client Wealth LLC increased its position in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 77 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Down 1.2 %

Shares of Biogen stock traded down $1.82 during trading on Wednesday, reaching $151.33. The stock had a trading volume of 544,831 shares, compared to its average volume of 1,046,015. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $22.05 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 1.74 and a beta of -0.07. Biogen Inc. has a 52 week low of $145.07 and a 52 week high of $257.28. The stock has a fifty day moving average price of $158.96 and a two-hundred day moving average price of $188.87.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the business earned $4.36 EPS. Sell-side analysts predict that Biogen Inc. will post 16.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and reduced their price target for the company from $250.00 to $180.00 in a research report on Monday, December 9th. UBS Group decreased their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Raymond James reiterated a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Mizuho lowered their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Finally, Bank of America reissued a “neutral” rating and set a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. Sixteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $232.40.

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.