Everence Capital Management Inc. raised its stake in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 56.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,360 shares of the biotechnology company’s stock after buying an additional 1,570 shares during the period. Everence Capital Management Inc.’s holdings in Biogen were worth $667,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of BIIB. Centre Asset Management LLC grew its stake in shares of Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after purchasing an additional 3,698 shares during the period. Versant Capital Management Inc boosted its holdings in Biogen by 228.7% during the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock worth $61,000 after buying an additional 279 shares in the last quarter. Principal Financial Group Inc. grew its position in Biogen by 3.2% during the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after buying an additional 5,270 shares during the period. Exome Asset Management LLC purchased a new position in Biogen in the third quarter valued at $2,573,000. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Biogen in the third quarter worth about $1,383,000. Institutional investors and hedge funds own 87.93% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and dropped their target price for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 target price on shares of Biogen in a report on Monday, September 9th. Royal Bank of Canada dropped their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, TD Cowen decreased their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Seventeen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $235.68.
Biogen Trading Up 1.5 %
BIIB opened at $152.21 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a market cap of $22.18 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.74 and a beta of -0.07. Biogen Inc. has a 52 week low of $145.07 and a 52 week high of $264.58. The business has a fifty day simple moving average of $160.20 and a 200-day simple moving average of $190.34.
Biogen (NASDAQ:BIIB – Get Free Report) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.36 EPS. On average, equities analysts expect that Biogen Inc. will post 16.43 earnings per share for the current year.
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.
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