Biogen Inc. (NASDAQ:BIIB) Shares Sold by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB reduced its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 27.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 272 shares of the biotechnology company’s stock after selling 104 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Biogen were worth $42,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of BIIB. HB Wealth Management LLC boosted its stake in Biogen by 15.5% in the fourth quarter. HB Wealth Management LLC now owns 1,589 shares of the biotechnology company’s stock valued at $243,000 after acquiring an additional 213 shares in the last quarter. Premier Path Wealth Partners LLC lifted its holdings in shares of Biogen by 25.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 7,556 shares of the biotechnology company’s stock valued at $1,155,000 after purchasing an additional 1,548 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of Biogen by 501.9% in the 4th quarter. Brooklyn Investment Group now owns 620 shares of the biotechnology company’s stock valued at $95,000 after purchasing an additional 517 shares during the period. Sax Wealth Advisors LLC purchased a new position in Biogen during the 4th quarter worth approximately $337,000. Finally, Merit Financial Group LLC acquired a new position in Biogen during the fourth quarter worth approximately $448,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BIIB shares. Raymond James restated a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. TD Cowen dropped their price target on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Barclays lowered their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Bank of America restated a “neutral” rating and set a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. Sixteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $230.00.

Biogen Stock Up 1.8 %

Shares of NASDAQ BIIB opened at $146.20 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a 12-month low of $139.71 and a 12-month high of $251.99. The company has a market capitalization of $21.30 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.64 and a beta of -0.07. The firm’s 50-day moving average is $152.21 and its two-hundred day moving average is $182.52.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.36 EPS. Equities analysts anticipate that Biogen Inc. will post 16.41 EPS for the current fiscal year.

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.