Blue Trust Inc. Has $91,000 Holdings in Biogen Inc. (NASDAQ:BIIB)

Blue Trust Inc. boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 165.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 472 shares of the biotechnology company’s stock after acquiring an additional 294 shares during the period. Blue Trust Inc.’s holdings in Biogen were worth $91,000 at the end of the most recent quarter.

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

Insider Transactions at Biogen

In other Biogen 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 value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Biogen Stock Performance

BIIB stock opened at $183.47 on Wednesday. The company has a 50 day moving average price of $194.42 and a 200 day moving average price of $209.98. Biogen Inc. has a fifty-two week low of $181.24 and a fifty-two week high of $268.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The stock has a market capitalization of $26.71 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06.

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

Analyst Ratings Changes

A number of research analysts recently commented on BIIB shares. Raymond James restated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $285.00 price objective on shares of Biogen in a report on Tuesday, September 24th. Royal Bank of Canada decreased their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company cut their price target on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Truist Financial reiterated a “buy” rating and issued a $302.00 price objective (down from $340.00) on shares of Biogen in a research note on Monday, August 5th. Nine research 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 stock. According to MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average price target of $271.39.

Biogen Company 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.