Bank of New York Mellon Corp Has $149.07 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Bank of New York Mellon Corp cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 974,795 shares of the biotechnology company’s stock after selling 28,340 shares during the period. Bank of New York Mellon Corp owned 0.67% of Biogen worth $149,066,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BIIB. Prasad Wealth Partners LLC acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $222,000. BankPlus Trust Department acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $106,000. Y Intercept Hong Kong Ltd lifted its position in shares of Biogen by 111.0% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 15,148 shares of the biotechnology company’s stock valued at $2,316,000 after buying an additional 7,970 shares during the last quarter. MONECO Advisors LLC acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $205,000. Finally, Howard Capital Management Inc. lifted its position in shares of Biogen by 3.4% in the fourth quarter. Howard Capital Management Inc. now owns 4,602 shares of the biotechnology company’s stock valued at $704,000 after buying an additional 153 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Trading Up 0.4 %

NASDAQ BIIB opened at $140.50 on Friday. 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 Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a market cap of $20.57 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. The business’s fifty day moving average is $144.43 and its 200 day moving average is $168.73.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on BIIB shares. Scotiabank cut their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Mizuho lowered their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. Finally, Sanford C. Bernstein began coverage on Biogen in a research note on Tuesday, February 11th. They set a “market perform” rating and a $160.00 target price on the stock. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $213.33.

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.