CoreFirst Bank & Trust Buys Shares of 304 Biogen Inc. (NASDAQ:BIIB)

CoreFirst Bank & Trust purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, Holdings Channel.com reports. The fund purchased 304 shares of the biotechnology company’s stock, valued at approximately $46,000.

A number of other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC raised its holdings in Biogen by 3.5% during the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after purchasing an additional 71 shares in the last quarter. Quent Capital LLC raised its stake in shares of Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after buying an additional 72 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of 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 buying an additional 77 shares during the period. Principal Securities Inc. boosted its stake in Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 78 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock worth $767,000 after acquiring an additional 79 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $139.16 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The business’s 50-day moving average price is $141.91 and its two-hundred day moving average price is $160.95. The company has a market capitalization of $20.37 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and cut their price target for the company from $250.00 to $180.00 in a report on Monday, December 9th. Bank of America reissued a “neutral” rating and set a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Truist Financial reduced their price objective on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Biogen presently has an average rating of “Hold” and a consensus target price of $213.33.

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.