UMB Bank n.a. Cuts Stock Position in Biogen Inc. (NASDAQ:BIIB)

UMB Bank n.a. trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB) by 40.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 251 shares of the biotechnology company’s stock after selling 174 shares during the period. UMB Bank n.a.’s holdings in Biogen were worth $38,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp grew its holdings in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares during the period. Geode Capital Management LLC grew its stake in shares of Biogen by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after buying an additional 47,055 shares during the last quarter. RA Capital Management L.P. increased its position in Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after buying an additional 202,317 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Biogen by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after acquiring an additional 18,905 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after acquiring an additional 12,319 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 1.8 %

BIIB stock opened at $146.20 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $151.93 and a two-hundred day moving average of $181.95. The company has a market cap of $21.30 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.64 and a beta of -0.07. Biogen Inc. has a 12 month low of $139.71 and a 12 month high of $251.99.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm earned $4.36 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, analysts forecast that Biogen Inc. will post 16.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BIIB. Barclays dropped their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Mizuho reduced their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Truist Financial lowered their price target on Biogen from $302.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley lowered Biogen from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $285.00 to $204.00 in a research report on Thursday, October 31st. Finally, Raymond James reiterated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Biogen has a consensus rating of “Hold” and a consensus price target of $230.00.

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.