Inspire Trust Co. N.A. Has $1.88 Million Position in Biogen Inc. (NASDAQ:BIIB)

Inspire Trust Co. N.A. raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 12.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,300 shares of the biotechnology company’s stock after purchasing an additional 1,400 shares during the period. Inspire Trust Co. N.A.’s holdings in Biogen were worth $1,881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its holdings in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after buying an additional 141 shares during the period. Lee Danner & Bass Inc. bought a new stake in Biogen during the fourth quarter valued at about $25,000. Colonial Trust Co SC boosted its holdings in Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 186 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Biogen in the fourth quarter valued at about $32,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of Biogen in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 2.9%

BIIB opened at $126.82 on Thursday. The firm has a market cap of $18.58 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.51 and a beta of 0.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm’s 50-day simple moving average is $125.30 and its 200-day simple moving average is $141.60. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Biogen’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.67 earnings per share. Equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of research analyst reports. Truist Financial lowered their target price on Biogen from $210.00 to $199.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Bank Of America (Bofa) lowered their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Argus lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Hsbc Global Res cut shares of Biogen from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company decreased their price target on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $191.30.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate 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.