Toronto Dominion Bank grew its holdings in Biogen Inc. (NASDAQ:BIIB – Get Rating) by 71.7% during the 4th quarter, HoldingsChannel reports. The firm owned 136,113 shares of the biotechnology company's stock after purchasing an additional 56,845 shares during the quarter. Toronto Dominion Bank's holdings in Biogen were worth $37,673,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Larson Financial Group LLC acquired a new stake in shares of Biogen during the 3rd quarter valued at $25,000. CVA Family Office LLC lifted its holdings in Biogen by 50.0% during the 3rd quarter. CVA Family Office LLC now owns 105 shares of the biotechnology company's stock worth $28,000 after buying an additional 35 shares during the period. MinichMacGregor Wealth Management LLC acquired a new position in Biogen during the 4th quarter worth about $28,000. James Investment Research Inc. acquired a new position in Biogen during the 4th quarter worth about $28,000. Finally, Trustcore Financial Services LLC lifted its holdings in Biogen by 564.7% during the 3rd quarter. Trustcore Financial Services LLC now owns 113 shares of the biotechnology company's stock worth $30,000 after buying an additional 96 shares during the period. Institutional investors own 84.40% of the company's stock.
Get Biogen alerts:Insider Transactions at Biogen
In other news, insider Priya Singhal sold 568 shares of the business's stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $270.06, for a total value of $153,394.08. Following the transaction, the insider now owns 2,842 shares in the company, valued at approximately $767,510.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Priya Singhal sold 568 shares of the business's stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $270.06, for a total value of $153,394.08. Following the transaction, the insider now owns 2,842 shares in the company, valued at approximately $767,510.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ginger Gregory sold 2,681 shares of the business's stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $300.00, for a total value of $804,300.00. Following the completion of the transaction, the executive vice president now owns 8,483 shares in the company, valued at approximately $2,544,900. The disclosure for this sale can be found here. Insiders have sold 3,340 shares of company stock worth $982,911 in the last 90 days. Insiders own 0.65% of the company's stock.
Biogen Stock Performance
Shares of BIIB opened at $311.00 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.58 and a current ratio of 3.24. The stock has a 50 day moving average price of $278.23 and a two-hundred day moving average price of $282.94. The firm has a market capitalization of $45.01 billion, a P/E ratio of 14.44, a P/E/G ratio of 2.42 and a beta of 0.19. Biogen Inc. has a 52 week low of $187.16 and a 52 week high of $316.69.
Biogen (NASDAQ:BIIB – Get Rating) last announced its earnings results on Tuesday, April 25th. The biotechnology company reported $3.40 earnings per share for the quarter, topping analysts' consensus estimates of $3.25 by $0.15. Biogen had a return on equity of 19.60% and a net margin of 30.99%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the business earned $3.62 EPS. The company's revenue was down 2.7% compared to the same quarter last year. Equities analysts forecast that Biogen Inc. will post 15.47 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have commented on BIIB shares. Royal Bank of Canada cut their target price on Biogen from $344.00 to $340.00 in a report on Wednesday, April 26th. StockNews.com assumed coverage on Biogen in a report on Thursday, March 16th. They set a "strong-buy" rating on the stock. Cowen boosted their price objective on Biogen from $300.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, February 16th. Piper Sandler raised Biogen from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $280.00 to $346.00 in a research note on Monday, April 17th. Finally, Guggenheim raised Biogen from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $270.00 to $350.00 in a research note on Monday. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $326.46.
Biogen Company Profile
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Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. Its products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA, ADUHELM for the treatment of Alzheimer's disease, and FUMADERM for the treatment of severe plaque psoriasis.
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