Enterprise Bank & Trust Co Sells 1,138 Shares of Biogen Inc. (NASDAQ:BIIB)

Enterprise Bank & Trust Co reduced its holdings in Biogen Inc. (NASDAQ:BIIB) by 28.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,864 shares of the biotechnology company’s stock after selling 1,138 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Biogen were worth $438,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BIIB. Acadian Asset Management LLC increased its holdings in Biogen by 201.9% in the second quarter. Acadian Asset Management LLC now owns 5,702 shares of the biotechnology company’s stock worth $1,320,000 after purchasing an additional 3,813 shares in the last quarter. Choreo LLC bought a new stake in Biogen in the second quarter worth approximately $297,000. Meeder Advisory Services Inc. increased its holdings in Biogen by 27.6% in the second quarter. Meeder Advisory Services Inc. now owns 1,951 shares of the biotechnology company’s stock worth $452,000 after purchasing an additional 422 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Biogen by 8.5% during the second quarter. Parallel Advisors LLC now owns 1,982 shares of the biotechnology company’s stock valued at $459,000 after acquiring an additional 156 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Biogen by 8.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 36,767 shares of the biotechnology company’s stock valued at $8,523,000 after acquiring an additional 2,787 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Up 0.5 %

BIIB stock traded up $0.76 during trading on Monday, hitting $149.58. 702,184 shares of the company traded hands, compared to its average volume of 1,098,673. The firm has a market capitalization of $21.80 billion, a PE ratio of 13.51, a P/E/G ratio of 1.74 and a beta of -0.07. Biogen Inc. has a 1 year low of $145.07 and a 1 year high of $252.17. The company has a 50-day moving average of $157.38 and a 200-day moving average of $187.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.36 EPS. Analysts predict that Biogen Inc. will post 16.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $285.00 to $204.00 in a report on Thursday, October 31st. BMO Capital Markets downgraded Biogen from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $230.00 to $164.00 in a report on Friday, December 20th. TD Cowen cut their target price on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Piper Sandler cut Biogen from an “overweight” rating to a “neutral” rating and cut their target price for the company from $315.00 to $138.00 in a research report on Thursday, January 2nd. Finally, Mizuho cut their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $230.00.

Biogen Company 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.