Biogen Inc. (NASDAQ:BIIB) Shares Bought by Everence Capital Management Inc.

Everence Capital Management Inc. grew its stake in Biogen Inc. (NASDAQ:BIIB) by 56.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,360 shares of the biotechnology company’s stock after buying an additional 1,570 shares during the quarter. Everence Capital Management Inc.’s holdings in Biogen were worth $667,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Biogen in the second quarter worth approximately $33,000. Ashton Thomas Securities LLC purchased a new stake in Biogen during the 3rd quarter worth about $33,000. Venturi Wealth Management LLC boosted its position in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Biogen by 228.7% in the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 279 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Biogen during the 3rd quarter worth about $74,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on BIIB shares. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $292.00 price target on shares of Biogen in a research note on Monday, September 9th. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research note on Monday, December 16th. UBS Group cut their target price on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada decreased their target price on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Seventeen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $235.68.

Biogen Price Performance

BIIB stock opened at $152.21 on Friday. The firm has a 50 day moving average of $160.20 and a 200-day moving average of $190.34. The company has a market cap of $22.18 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.74 and a beta of -0.07. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12-month low of $145.07 and a 12-month high of $264.58.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.36 earnings per share. As a group, equities analysts expect that Biogen Inc. will post 16.43 EPS for the current fiscal year.

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.