Blue Trust Inc. Acquires 294 Shares of Biogen Inc. (NASDAQ:BIIB)

Blue Trust Inc. increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 165.2% in the 3rd quarter, Holdings Channel reports. The fund owned 472 shares of the biotechnology company’s stock after buying an additional 294 shares during the quarter. Blue Trust Inc.’s holdings in Biogen were worth $91,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Duality Advisers LP purchased a new stake in Biogen in the first quarter worth about $1,290,000. Tocqueville Asset Management L.P. boosted its position in shares of Biogen by 924.4% in the 1st quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock worth $9,962,000 after purchasing an additional 41,690 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Biogen by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock worth $83,337,000 after purchasing an additional 3,380 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Biogen by 235.1% in the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after buying an additional 10,425 shares during the last quarter. Finally, M&G Plc bought a new position in Biogen during the 1st quarter valued at approximately $1,856,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BIIB has been the topic of several analyst reports. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Wells Fargo & Company dropped their price target on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $285.00 price objective on shares of Biogen in a research note on Tuesday, September 24th. BMO Capital Markets decreased their target price on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, UBS Group cut their price target on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and a consensus target price of $271.39.

Biogen Trading Down 0.8 %

Shares of NASDAQ:BIIB opened at $183.47 on Wednesday. Biogen Inc. has a 52-week low of $181.24 and a 52-week high of $268.30. The stock has a market capitalization of $26.71 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 1.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The stock’s 50-day simple moving average is $194.42 and its two-hundred day simple moving average is $209.98.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the firm posted $4.02 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. Analysts expect that Biogen Inc. will post 16.14 EPS for the current year.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

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.