Biogen Inc. (NASDAQ:BIIB) Holdings Lifted by Fiduciary Trust Co

Fiduciary Trust Co grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 24.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,234 shares of the biotechnology company’s stock after buying an additional 631 shares during the period. Fiduciary Trust Co’s holdings in Biogen were worth $627,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in Biogen in the second quarter worth about $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Biogen during the 3rd quarter worth about $33,000. Versant Capital Management Inc lifted its stake in shares of Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 85 shares during the period. Blue Trust Inc. boosted its holdings in shares of Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 127 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 49 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wolfe Research assumed coverage on Biogen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Citigroup started coverage on Biogen in a research note on Thursday, November 14th. They set a “neutral” rating and a $190.00 target price for the company. Oppenheimer dropped their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. UBS Group reduced their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Finally, BMO Capital Markets cut their target price on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $257.20.

Biogen Stock Up 0.5 %

BIIB stock opened at $160.63 on Friday. The company has a 50 day moving average of $177.86 and a two-hundred day moving average of $202.99. The company has a market cap of $23.41 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.51 and a beta of -0.06. Biogen Inc. has a 12-month low of $153.62 and a 12-month high of $268.30. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company earned $4.36 earnings per share. Biogen’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Biogen Inc. will post 16.44 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

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.