Diversified Trust Co Grows Stock Position in Biogen Inc. (NASDAQ:BIIB)

Diversified Trust Co increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,926 shares of the biotechnology company’s stock after purchasing an additional 143 shares during the quarter. Diversified Trust Co’s holdings in Biogen were worth $3,506,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in Biogen by 19,722.9% in the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after buying an additional 357,181 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after buying an additional 304,778 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Biogen in the 3rd quarter valued at about $55,826,000. State Street Corp raised its position in shares of Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after acquiring an additional 248,942 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Biogen by 122.1% during the 3rd quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock worth $82,886,000 after acquiring an additional 235,100 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 0.1 %

Biogen stock opened at $153.15 on Wednesday. The stock’s 50 day moving average price is $158.96 and its 200 day moving average price is $188.87. Biogen Inc. has a 1-year low of $145.07 and a 1-year high of $258.71. The company has a market cap of $22.32 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.74 and a beta of -0.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

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

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of research analyst reports. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a report on Monday, December 16th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and cut their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. TD Cowen decreased their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Wedbush decreased their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Finally, BMO Capital Markets downgraded Biogen from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $230.00 to $164.00 in a report on Friday, December 20th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Hold” and a consensus price target of $235.68.

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.