FineMark National Bank & Trust Sells 121 Shares of Biogen Inc. (NASDAQ:BIIB)

FineMark National Bank & Trust decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 7.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,486 shares of the biotechnology company’s stock after selling 121 shares during the period. FineMark National Bank & Trust’s holdings in Biogen were worth $227,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in 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 in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen in the fourth quarter valued at about $25,000. OFI Invest Asset Management bought a new stake in Biogen during the fourth quarter worth about $32,000. SRS Capital Advisors Inc. acquired a new position in Biogen during the fourth quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC bought a new position in Biogen in the fourth quarter valued at approximately $41,000. Institutional investors own 87.93% of the company’s stock.

Insiders Place Their Bets

In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

Biogen Stock Up 2.3 %

NASDAQ BIIB opened at $142.43 on Thursday. 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 company has a market cap of $20.85 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.51 and a beta of 0.01. The company has a 50 day moving average of $141.94 and a 200-day moving average of $160.82. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent analyst reports. Sanford C. Bernstein assumed coverage on Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price objective for the company. Bank of America reiterated a “neutral” rating and issued a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. HC Wainwright lowered their price objective on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Scotiabank cut their target price on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Finally, Truist Financial lowered their price target on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $213.33.

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.