Huntington National Bank Has $369,000 Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Huntington National Bank grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,414 shares of the biotechnology company’s stock after acquiring an additional 106 shares during the period. Huntington National Bank’s holdings in Biogen were worth $369,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Larson Financial Group LLC lifted its holdings in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after buying an additional 141 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of Biogen in the fourth quarter worth approximately $25,000. OFI Invest Asset Management bought a new stake in Biogen in the fourth quarter valued at approximately $32,000. SRS Capital Advisors Inc. acquired a new stake in Biogen during the 4th quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC bought a new position in Biogen during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB opened at $122.98 on Friday. The stock has a 50 day moving average of $140.68 and a 200 day moving average of $157.90. The company has a market capitalization of $18.00 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 12 month low of $122.77 and a 12 month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (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%. As a group, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

BIIB has been the subject of several recent analyst reports. Sanford C. Bernstein began coverage on shares of Biogen in a research report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price objective for the company. The Goldman Sachs Group lowered their price objective on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research note on Monday, December 16th. Morgan Stanley dropped their price target on Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Finally, Scotiabank reduced their price objective on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $213.33.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

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.