TIAA Trust National Association Purchases 108 Shares of Biogen Inc. (NASDAQ:BIIB)

TIAA Trust National Association lifted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 3.1% during the 4th quarter, HoldingsChannel reports. The firm owned 3,575 shares of the biotechnology company’s stock after acquiring an additional 108 shares during the period. TIAA Trust National Association’s holdings in Biogen were worth $547,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of Biogen in the 4th quarter worth about $25,000. OFI Invest Asset Management bought a new position in shares of Biogen in the 4th quarter worth about $32,000. SRS Capital Advisors Inc. purchased a new position in Biogen during the 4th quarter valued at about $33,000. Finally, Golden State Wealth Management LLC bought a new stake in Biogen during the fourth quarter worth about $41,000. 87.93% of the stock is currently owned by institutional investors.

Biogen Price Performance

Biogen stock opened at $140.33 on Friday. The company has a market cap of $20.54 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.51 and a beta of 0.01. The firm’s fifty day moving average is $141.92 and its 200 day moving average is $160.68. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BIIB. Sanford C. Bernstein assumed coverage on shares of Biogen in a research note on Tuesday, February 11th. They set a “market perform” rating and a $160.00 target price for the company. Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and lowered their price objective for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Citigroup dropped their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. HC Wainwright reduced their price target on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $135.00 price target (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $213.33.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by insiders.

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.