Whittier Trust Co. of Nevada Inc. Decreases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Whittier Trust Co. of Nevada Inc. reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,832 shares of the biotechnology company’s stock after selling 77 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Biogen were worth $1,198,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Biogen in the 4th quarter valued at approximately $32,000. SRS Capital Advisors Inc. purchased a new position in shares of Biogen in the 4th quarter valued at approximately $33,000. Golden State Wealth Management LLC purchased a new position in shares of Biogen in the 4th quarter valued at approximately $41,000. Finally, Itau Unibanco Holding S.A. raised its position in shares of Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 90 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Biogen Trading Down 0.3 %

Shares of BIIB opened at $140.90 on Friday. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The firm’s fifty 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 PE ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced 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%. Research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on BIIB. Truist Financial decreased their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Morgan Stanley reduced their price target on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Scotiabank reduced their price target on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. BMO Capital Markets reduced their price target 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. Finally, Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and reduced their price target for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Biogen presently has a consensus rating of “Hold” and an average price target of $213.33.

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.