Biogen Inc. (NASDAQ:BIIB) Shares Bought by Greenleaf Trust

Posted by on Apr 7th, 2023

Greenleaf Trust raised its position in shares of Biogen Inc. (NASDAQ:BIIB – Get Rating) by 63.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,844 shares of the biotechnology company’s stock after buying an additional 719 shares during the period. Greenleaf Trust’s holdings in Biogen were worth $511,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CVA Family Office LLC grew its stake in Biogen by 50.0% in the third quarter. CVA Family Office LLC now owns 105 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 35 shares in the last quarter. Lindenwold Advisors boosted its stake in Biogen by 0.7% in the third quarter. Lindenwold Advisors now owns 5,376 shares of the biotechnology company’s stock valued at $1,435,000 after acquiring an additional 38 shares during the period. Allworth Financial LP boosted its stake in Biogen by 5.7% in the third quarter. Allworth Financial LP now owns 722 shares of the biotechnology company’s stock valued at $193,000 after acquiring an additional 39 shares during the period. Lindbrook Capital LLC boosted its stake in Biogen by 9.0% in the fourth quarter. Lindbrook Capital LLC now owns 569 shares of the biotechnology company’s stock valued at $158,000 after acquiring an additional 47 shares during the period. Finally, Tevis Investment Management boosted its stake in Biogen by 2.0% in the third quarter. Tevis Investment Management now owns 2,522 shares of the biotechnology company’s stock valued at $673,000 after acquiring an additional 49 shares during the period. 84.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Biogen news, insider Priya Singhal sold 91 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $277.11, for a total transaction of $25,217.01. Following the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at $787,823.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is owned by company insiders.

Biogen Stock Up 1.0 %

Biogen stock opened at $286.80 on Friday. The firm has a fifty day moving average price of $274.77 and a two-hundred day moving average price of $275.77. The firm has a market cap of $41.44 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 2.38 and a beta of 0.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.99 and a quick ratio of 2.58. Biogen Inc. has a fifty-two week low of $187.16 and a fifty-two week high of $311.88.

Biogen (NASDAQ:BIIB – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The biotechnology company reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.57. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.44 billion. Biogen had a net margin of 29.95% and a return on equity of 20.96%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.39 earnings per share. As a group, analysts forecast that Biogen Inc. will post 15.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $325.00 price target on shares of Biogen in a report on Thursday, March 23rd. Morgan Stanley upped their price target on Biogen from $345.00 to $351.00 and gave the company an “overweight” rating in a report on Thursday, February 16th. Cowen upped their price target on Biogen from $300.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $325.00 price target on shares of Biogen in a report on Wednesday, February 15th. Finally, Royal Bank of Canada upped their price target on Biogen from $335.00 to $350.00 in a report on Monday, March 13th. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.00.

About Biogen

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Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. Its products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA, ADUHELM for the treatment of Alzheimer’s disease, and FUMADERM for the treatment of severe plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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