Biogen Inc. (NASDAQ:BIIB) Shares Bought by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,264 shares of the biotechnology company’s stock after buying an additional 252 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Biogen were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Exchange Traded Concepts LLC raised its holdings in Biogen by 5.2% in the first quarter. Exchange Traded Concepts LLC now owns 2,405 shares of the biotechnology company’s stock valued at $329,000 after acquiring an additional 119 shares in the last quarter. Missouri Trust & Investment Co raised its stake in Biogen by 63.6% during the first quarter. Missouri Trust & Investment Co now owns 6,325 shares of the biotechnology company’s stock valued at $866,000 after buying an additional 2,460 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Biogen during the 1st quarter worth approximately $26,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Biogen by 15.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,049 shares of the biotechnology company’s stock worth $2,607,000 after purchasing an additional 2,606 shares during the period. Finally, CVA Family Office LLC lifted its holdings in Biogen by 71.1% in the first quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BIIB shares. Argus lowered Biogen from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research report on Thursday. Morgan Stanley decreased their price objective on Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Wedbush reiterated a “neutral” rating and set a $121.00 price target on shares of Biogen in a research report on Thursday. Finally, Hsbc Global Res lowered Biogen from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Twenty investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $188.19.

Biogen Price Performance

BIIB opened at $130.65 on Monday. The firm has a market capitalization of $19.14 billion, a P/E ratio of 11.68, a PEG ratio of 1.51 and a beta of 0.14. The stock has a fifty day moving average of $123.75 and a 200-day moving average of $137.27. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the company posted $3.67 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. Equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.