Blue Trust Inc. Acquires 184 Shares of Biogen Inc. (NASDAQ:BIIB)

Blue Trust Inc. lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 39.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 656 shares of the biotechnology company’s stock after acquiring an additional 184 shares during the period. Blue Trust Inc.’s holdings in Biogen were worth $100,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Biogen in the third quarter valued at about $33,000. Venturi Wealth Management LLC grew its position in Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 90 shares during the last quarter. Versant Capital Management Inc increased its stake in 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 buying an additional 279 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of Biogen during the 3rd quarter worth approximately $74,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $142.37 on Friday. The company has a 50 day simple moving average of $149.88 and a two-hundred day simple moving average of $176.96. Biogen Inc. has a fifty-two week low of $139.71 and a fifty-two week high of $246.44. The company has a market capitalization of $20.75 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 1.66 and a beta of -0.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $250.00 to $180.00 in a report on Monday, December 9th. Raymond James reiterated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Bank of America restated a “neutral” rating and set a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. Finally, BMO Capital Markets downgraded Biogen from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $230.00 to $164.00 in a research note on Friday, December 20th. Sixteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $228.80.

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.