Commerce Bank Acquires 1,014 Shares of Biogen Inc. (NASDAQ:BIIB)

Commerce Bank increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,915 shares of the biotechnology company’s stock after purchasing an additional 1,014 shares during the period. Commerce Bank’s holdings in Biogen were worth $1,922,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after buying an additional 5,270 shares in the last quarter. Arlington Partners LLC boosted its stake in Biogen by 34.3% in the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after purchasing an additional 4,902 shares during the period. Cetera Investment Advisers boosted its stake in Biogen by 235.1% in the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after purchasing an additional 10,425 shares during the period. National Pension Service raised its stake in shares of Biogen by 10.1% in the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock valued at $69,699,000 after purchasing an additional 32,914 shares during the period. Finally, Tidal Investments LLC lifted its holdings in shares of Biogen by 99.1% in the first quarter. Tidal Investments LLC now owns 10,211 shares of the biotechnology company’s stock valued at $2,202,000 after purchasing an additional 5,082 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Down 0.1 %

Shares of BIIB stock opened at $157.90 on Friday. The stock has a market cap of $23.01 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.49 and a beta of -0.06. Biogen Inc. has a 1 year low of $153.62 and a 1 year high of $268.30. 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 stock has a 50 day simple moving average of $181.85 and a 200 day simple moving average of $205.22.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the company posted $4.36 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. On average, research analysts predict that Biogen Inc. will post 16.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This represents a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of research reports. Truist Financial reiterated a “buy” rating and set a $302.00 price objective (down from $340.00) on shares of Biogen in a report on Monday, August 5th. Oppenheimer decreased their target price on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Mizuho dropped their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Finally, Citigroup began coverage on shares of Biogen in a research note on Thursday, November 14th. They set a “neutral” rating and a $190.00 price objective on the stock. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $257.20.

About Biogen

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.