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

UMB Bank n.a. boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 88.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 472 shares of the biotechnology company’s stock after purchasing an additional 221 shares during the quarter. UMB Bank n.a.’s holdings in Biogen were worth $65,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new stake in Biogen in the fourth quarter valued at approximately $25,000. Larson Financial Group LLC grew its position in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. Colonial Trust Co SC grew its position in Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 186 shares in the last quarter. SRS Capital Advisors Inc. acquired a new stake in Biogen in the fourth quarter valued at approximately $33,000. Finally, OFI Invest Asset Management acquired a new stake in Biogen in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

BIIB stock opened at $130.65 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a market capitalization of $19.14 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.51 and a beta of 0.14. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00. The stock’s fifty day moving average is $123.75 and its two-hundred day moving average is $137.58.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.67 earnings per share. On average, research analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Thursday. Piper Sandler reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of Biogen in a research report on Thursday. Hsbc Global Res downgraded shares of Biogen from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Royal Bank of Canada lowered their price objective on shares of Biogen from $217.00 to $205.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a research report on Monday, May 5th. Twenty investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Biogen currently has an average rating of “Hold” and an average target price of $188.19.

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.