Whittier Trust Co. Sells 112 Shares of Biogen Inc. (NASDAQ:BIIB)

Whittier Trust Co. reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Commerce Bank lifted its stake in Biogen by 11.4% during the third quarter. Commerce Bank now owns 9,915 shares of the biotechnology company’s stock worth $1,922,000 after purchasing an additional 1,014 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Biogen by 2.2% during the third quarter. Advisors Asset Management Inc. now owns 6,696 shares of the biotechnology company’s stock worth $1,298,000 after purchasing an additional 147 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Biogen by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock worth $137,856,000 after purchasing an additional 162,511 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its stake in Biogen by 2.7% during the third quarter. Raymond James Trust N.A. now owns 2,993 shares of the biotechnology company’s stock worth $580,000 after purchasing an additional 80 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BIIB. William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Wells Fargo & Company cut 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. Piper Sandler restated a “neutral” rating and set a $135.00 target price (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Finally, Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a report on Monday, December 16th. 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $213.33.

Biogen Stock Performance

Shares of BIIB opened at $140.90 on Monday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $20.62 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The firm’s fifty day simple moving average is $142.16 and its two-hundred day simple moving average is $161.81. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The shares were 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. This represents a 43.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.

Biogen Profile

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.