Greenleaf Trust Has $558,000 Position in Biogen Inc. (NASDAQ:BIIB)

Greenleaf Trust increased its stake in Biogen Inc. (NASDAQ:BIIB) by 20.4% in the 4th quarter, Holdings Channel reports. The firm owned 2,155 shares of the biotechnology company’s stock after purchasing an additional 365 shares during the period. Greenleaf Trust’s holdings in Biogen were worth $558,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Knights of Columbus Asset Advisors LLC lifted its holdings in Biogen by 97.9% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 5,660 shares of the biotechnology company’s stock worth $1,465,000 after purchasing an additional 2,800 shares during the last quarter. Guardian Investment Management lifted its holdings in Biogen by 1.0% in the 4th quarter. Guardian Investment Management now owns 10,165 shares of the biotechnology company’s stock worth $2,630,000 after purchasing an additional 100 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Biogen by 157.5% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 430 shares of the biotechnology company’s stock worth $111,000 after purchasing an additional 263 shares during the last quarter. Everence Capital Management Inc. lifted its holdings in shares of Biogen by 26.6% during the fourth quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock worth $1,294,000 after buying an additional 1,050 shares during the last quarter. Finally, DGS Capital Management LLC lifted its holdings in shares of Biogen by 4.2% during the fourth quarter. DGS Capital Management LLC now owns 1,265 shares of the biotechnology company’s stock worth $327,000 after buying an additional 51 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BIIB. Barclays cut their price target on Biogen from $230.00 to $215.00 and set an “equal weight” rating for the company in a report on Thursday, April 4th. JPMorgan Chase & Co. cut their price target on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Wedbush cut their price target on Biogen from $245.00 to $213.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Canaccord Genuity Group cut their price target on Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Finally, Wells Fargo & Company lowered Biogen from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $315.00 to $240.00 in a report on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and an average target price of $295.58.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 419 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 882 shares of company stock worth $202,030. Insiders own 0.60% of the company’s stock.

Biogen Price Performance

Shares of BIIB stock opened at $194.11 on Tuesday. The stock’s fifty day moving average is $214.22 and its 200-day moving average is $235.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The stock has a market capitalization of $28.22 billion, a PE ratio of 24.32, a PEG ratio of 1.85 and a beta of -0.02. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.23). The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same quarter in the previous year, the company posted $4.05 EPS. Equities research analysts expect that Biogen Inc. will post 15.48 EPS for the current fiscal year.

Biogen Company 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.