Biogen Inc. (NASDAQ:BIIB) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its position in Biogen Inc. (NASDAQ:BIIB) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,246 shares of the biotechnology company’s stock after selling 113 shares during the quarter. Fifth Third Bancorp’s holdings in Biogen were worth $496,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Grandfield & Dodd LLC grew its position in Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after acquiring an additional 62 shares in the last quarter. Quintet Private Bank Europe S.A. grew its position in Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after acquiring an additional 63 shares in the last quarter. TD Private Client Wealth LLC grew its position in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares in the last quarter. Huntington National Bank grew its position in Biogen by 3.5% in the third quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock valued at $447,000 after acquiring an additional 79 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Biogen by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock valued at $767,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BIIB shares. Royal Bank of Canada reduced their target price on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. reduced their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Raymond James reiterated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Mizuho reduced 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, Piper Sandler cut Biogen from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $315.00 to $138.00 in a research note on Thursday, January 2nd. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Biogen presently has a consensus rating of “Hold” and an average target price of $228.80.

Biogen Trading Up 1.3 %

Biogen stock opened at $146.23 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $151.32 and a two-hundred day moving average price of $179.80. The firm has a market capitalization of $21.31 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.64 and a beta of -0.07. Biogen Inc. has a 52-week low of $139.71 and a 52-week high of $251.99.

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