UMB Bank n.a. Grows Holdings in Biogen Inc. (NASDAQ:BIIB)

UMB Bank n.a. boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 88.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC raised its position in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Biogen in the 4th quarter valued at $25,000. Colonial Trust Co SC increased its stake in Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 186 shares during the period. OFI Invest Asset Management acquired a new position in Biogen in the 4th quarter valued at $32,000. Finally, SRS Capital Advisors Inc. acquired a new position in Biogen in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 1.3%

Shares of BIIB stock opened at $130.65 on Friday. The firm has a market cap of $19.14 billion, a P/E 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 company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm’s 50-day simple moving average is $123.75 and its 200-day simple moving average is $137.58.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.67 earnings per share. As a group, equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Hsbc Global Res cut shares of Biogen from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research note on Thursday. Canaccord Genuity Group dropped their price objective on shares of Biogen from $265.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Robert W. Baird dropped their price objective 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. Finally, HSBC cut shares of Biogen from a “buy” rating to a “hold” rating and set a $118.00 price target on the stock. in a research note on Monday, April 28th. Twenty analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Biogen currently has an average rating of “Hold” and a consensus 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.