Missouri Trust & Investment Co Decreases Position in Biogen Inc. (NASDAQ:BIIB)

Missouri Trust & Investment Co reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,865 shares of the biotechnology company’s stock after selling 777 shares during the period. Missouri Trust & Investment Co’s holdings in Biogen were worth $591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in Biogen by 19,722.9% in the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after acquiring an additional 357,181 shares in the last quarter. Mizuho Securities USA LLC grew its stake in Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after buying an additional 304,778 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Biogen in the third quarter valued at approximately $55,826,000. State Street Corp boosted its holdings in shares of Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after acquiring an additional 248,942 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Biogen by 122.1% during the third quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock worth $82,886,000 after acquiring an additional 235,100 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BIIB. Mizuho reduced their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Bank of America reiterated a “neutral” rating and set a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. TD Cowen dropped their price target on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Oppenheimer decreased their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Robert W. Baird boosted their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $230.00.

Biogen Stock Performance

NASDAQ BIIB opened at $140.98 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a fifty-two week low of $140.05 and a fifty-two week high of $252.17. The business has a fifty day moving average of $153.64 and a 200-day moving average of $183.67. The stock has a market cap of $20.54 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.61 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company posted $4.36 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, analysts predict that Biogen Inc. will post 16.41 earnings per share for the current fiscal year.

About Biogen

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.