Westpac Banking Corp Has $395,000 Holdings in Biogen Inc. (NASDAQ:BIIB)

Westpac Banking Corp boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 20.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,585 shares of the biotechnology company’s stock after buying an additional 436 shares during the quarter. Westpac Banking Corp’s holdings in Biogen were worth $395,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Signaturefd LLC boosted its stake in shares of Biogen by 3.5% in the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after purchasing an additional 71 shares in the last quarter. Quent Capital LLC boosted its position in Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 72 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after buying an additional 77 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after buying an additional 78 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Biogen by 1.6% in 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 during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Down 5.9 %

Shares of NASDAQ:BIIB opened at $122.98 on Friday. The firm has a market cap of $18.00 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.51 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12 month low of $122.77 and a 12 month high of $238.00. The company’s fifty day simple moving average is $140.68 and its 200 day simple moving average is $157.90.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on BIIB. Sanford C. Bernstein began coverage on Biogen in a research report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price target on the stock. Bank of America restated a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. Royal Bank of Canada cut their price target on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group lowered their price objective on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Scotiabank dropped their target price on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $213.33.

Insider Transactions at Biogen

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

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.