First American Trust FSB Sells 211 Shares of Biogen Inc (BIIB)
First American Trust FSB cut its holdings in Biogen Inc (NASDAQ:BIIB) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,331 shares of the biotechnology company’s stock after selling 211 shares during the period. First American Trust FSB’s holdings in Biogen were worth $3,410,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. IMS Capital Management purchased a new stake in shares of Biogen in the 3rd quarter worth about $38,000. Moody National Bank Trust Division purchased a new stake in shares of Biogen in the 4th quarter worth about $41,000. Csenge Advisory Group purchased a new stake in shares of Biogen in the 3rd quarter worth about $95,000. Honkamp Krueger Financial Services Inc. purchased a new stake in shares of Biogen in the 3rd quarter worth about $103,000. Finally, LeJeune Puetz Investment Counsel LLC purchased a new stake in shares of Biogen in the 3rd quarter worth about $107,000. Institutional investors and hedge funds own 86.78% of the company’s stock.
Shares of NASDAQ BIIB traded up $2.08 on Friday, reaching $333.27. 51,279 shares of the company traded hands, compared to its average volume of 1,413,511. Biogen Inc has a fifty-two week low of $249.17 and a fifty-two week high of $388.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.75 and a quick ratio of 2.46. The company has a market cap of $65.81 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.17 and a beta of 0.99.
Several brokerages recently weighed in on BIIB. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of Biogen in a research note on Monday, October 1st. Citigroup cut their target price on shares of Biogen from $483.00 to $470.00 and set a “buy” rating for the company in a research note on Monday, October 8th. Raymond James set a $400.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Oppenheimer set a $400.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Sunday, September 16th. Finally, Royal Bank of Canada cut their target price on shares of Biogen to $338.00 and set a “sector perform” rating for the company in a research note on Monday, November 26th. Eight investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $381.86.
TRADEMARK VIOLATION NOTICE: This news story was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international trademark & copyright laws. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2019/01/11/first-american-trust-fsb-sells-211-shares-of-biogen-inc-biib.html.
Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
Further Reading: What does the Dow Jones Industrial Average (DJIA) measure?
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.