Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Truist Financial Corp

Truist Financial Corp grew its position in Biogen Inc. (NASDAQ:BIIBGet Rating) by 23.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,996 shares of the biotechnology company’s stock after buying an additional 12,887 shares during the quarter. Truist Financial Corp’s holdings in Biogen were worth $17,888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Brookstone Capital Management raised its position in Biogen by 44.9% in the 3rd quarter. Brookstone Capital Management now owns 7,235 shares of the biotechnology company’s stock valued at $1,835,000 after purchasing an additional 2,242 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Biogen by 1.9% in the second quarter. Mutual of America Capital Management LLC now owns 19,951 shares of the biotechnology company’s stock worth $4,069,000 after acquiring an additional 367 shares during the last quarter. First Bank & Trust grew its holdings in Biogen by 10.0% during the 2nd quarter. First Bank & Trust now owns 837 shares of the biotechnology company’s stock worth $170,000 after acquiring an additional 76 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Biogen by 78.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 258,861 shares of the biotechnology company’s stock valued at $52,809,000 after purchasing an additional 113,919 shares during the last quarter. Finally, Gateway Investment Advisers LLC raised its holdings in shares of Biogen by 19.2% in the 2nd quarter. Gateway Investment Advisers LLC now owns 70,894 shares of the biotechnology company’s stock valued at $14,458,000 after purchasing an additional 11,395 shares in the last quarter. 84.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Susan H. Alexander sold 5,532 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $280.70, for a total value of $1,552,832.40. Following the completion of the transaction, the executive vice president now directly owns 39,396 shares of the company’s stock, valued at approximately $11,058,457.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Susan H. Alexander sold 5,532 shares of the stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $280.70, for a total value of $1,552,832.40. Following the sale, the executive vice president now directly owns 39,396 shares of the company’s stock, valued at approximately $11,058,457.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ginger Gregory sold 5,610 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $300.11, for a total transaction of $1,683,617.10. Following the transaction, the executive vice president now owns 5,711 shares of the company’s stock, valued at $1,713,928.21. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Biogen Trading Up 2.8 %

Shares of BIIB stock opened at $279.25 on Friday. The business’s fifty day moving average price is $288.23 and its 200 day moving average price is $246.17. The firm has a market capitalization of $40.21 billion, a PE ratio of 14.22, a P/E/G ratio of 1.72 and a beta of 0.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.49 and a quick ratio of 2.14. Biogen Inc. has a 1-year low of $187.16 and a 1-year high of $311.88.

Biogen (NASDAQ:BIIBGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The biotechnology company reported $4.77 earnings per share for the quarter, topping analysts’ consensus estimates of $4.13 by $0.64. Biogen had a net margin of 27.64% and a return on equity of 21.31%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the company posted $4.77 EPS. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that Biogen Inc. will post 17.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HC Wainwright increased their target price on Biogen from $240.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 26th. Guggenheim raised their target price on Biogen from $265.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, November 11th. StockNews.com assumed coverage on Biogen in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Barclays raised their price objective on shares of Biogen from $275.00 to $313.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 30th. Finally, Piper Sandler upped their target price on shares of Biogen from $200.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, September 28th. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.75.

Biogen Company Profile

(Get Rating)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

Recommended Stories

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIBGet Rating).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.