Chevy Chase Trust Holdings LLC Grows Stake in Biogen Inc. (NASDAQ:BIIB)

Chevy Chase Trust Holdings LLC increased its holdings in Biogen Inc. (NASDAQ:BIIBFree Report) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,115 shares of the biotechnology company’s stock after purchasing an additional 295 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Biogen were worth $10,552,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIIB. Larson Financial Group LLC increased its position in shares of Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 141 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Biogen during the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Biogen during the first quarter worth approximately $26,000. Colonial Trust Co SC lifted 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 worth $29,000 after purchasing an additional 186 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in Biogen in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Biogen stock opened at $126.92 on Friday. The stock has a market cap of $18.60 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.01 and a beta of 0.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00. The firm has a 50-day moving average of $125.53 and a two-hundred day moving average of $135.53.

Biogen (NASDAQ:BIIBGet Free Report) last posted its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a net margin of 15.07% and a return on equity of 14.03%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.67 EPS. On average, research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on BIIB shares. Hsbc Global Res downgraded shares of Biogen from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Robert W. Baird dropped their price target on shares of Biogen from $300.00 to $255.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group lowered their target price on Biogen from $219.00 to $197.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Wedbush restated a “neutral” rating and issued a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. decreased their price target on Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Twenty analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $188.48.

View Our Latest Analysis on Biogen

About Biogen

(Free Report)

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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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