Whittier Trust Co. Has $192,000 Stake in Biogen Inc. (NASDAQ:BIIB)

Whittier Trust Co. trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 8.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,256 shares of the biotechnology company’s stock after selling 112 shares during the period. Whittier Trust Co.’s holdings in Biogen were worth $192,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. Pacer Advisors Inc. increased its holdings in Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Biogen by 977.9% in the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after buying an additional 967,523 shares during the period. Amundi increased its stake in shares of Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after buying an additional 319,478 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of Biogen in the 3rd quarter valued at $55,826,000. Finally, State Street Corp increased its stake in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction that occurred 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. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BIIB shares. Canaccord Genuity Group lowered their target price on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company lowered their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Citigroup lowered their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Finally, Piper Sandler restated a “neutral” rating and issued a $135.00 price target (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $213.33.

Biogen Stock Performance

BIIB opened at $140.90 on Monday. The business’s 50-day moving average price is $142.16 and its two-hundred day moving average price is $161.81. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The company has a market capitalization of $20.62 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Biogen Inc. will post 15.83 EPS 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.