Trust Co. of Toledo NA OH Reduces Stake in Biogen Inc. (NASDAQ:BIIB)

Trust Co. of Toledo NA OH lowered its position in Biogen Inc. (NASDAQ:BIIB) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,012 shares of the biotechnology company’s stock after selling 203 shares during the period. Trust Co. of Toledo NA OH’s holdings in Biogen were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Czech National Bank lifted its stake in Biogen by 6.5% in the fourth quarter. Czech National Bank now owns 31,595 shares of the biotechnology company’s stock worth $4,832,000 after purchasing an additional 1,923 shares during the last quarter. West Oak Capital LLC lifted its stake in Biogen by 2,000.0% in the fourth quarter. West Oak Capital LLC now owns 945 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 900 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock valued at $767,000 after acquiring an additional 79 shares in the last quarter. Farmers Trust Co. bought a new stake in shares of Biogen during the fourth quarter valued at approximately $1,965,000. Finally, Diversified Trust Co raised its stake in shares of Biogen by 0.6% during the fourth quarter. Diversified Trust Co now owns 22,926 shares of the biotechnology company’s stock valued at $3,506,000 after acquiring an additional 143 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the subject of several research analyst reports. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and decreased their price target for the company from $250.00 to $180.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. decreased their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Barclays decreased their price target on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company decreased their price target on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $230.00.

Biogen Price Performance

Shares of BIIB opened at $150.18 on Tuesday. The firm has a market capitalization of $21.88 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.74 and a beta of -0.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a 1-year low of $145.07 and a 1-year high of $252.17. The company’s fifty day moving average price is $156.92 and its 200-day moving average price is $186.74.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.36 earnings per share. On average, equities research analysts predict that Biogen Inc. will post 16.43 EPS for the current 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.