Biogen Inc. (NASDAQ:BIIB) Position Increased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC raised its stake in Biogen Inc. (NASDAQ:BIIB) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,858 shares of the biotechnology company’s stock after buying an additional 386 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Biogen were worth $6,175,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of BIIB. KCM Investment Advisors LLC boosted its holdings in shares of Biogen by 1.7% in the first quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock worth $637,000 after buying an additional 48 shares during the period. First Horizon Advisors Inc. boosted its stake in Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 49 shares during the period. TFB Advisors LLC grew its position in Biogen by 2.1% during the 1st quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock worth $530,000 after purchasing an additional 50 shares in the last quarter. QRG Capital Management Inc. raised its stake in Biogen by 2.0% during the 1st quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after purchasing an additional 51 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in shares of Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 1.2 %

BIIB stock opened at $181.69 on Friday. The stock has a market capitalization of $26.46 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06. The company has a 50-day moving average of $195.28 and a two-hundred day moving average of $210.12. Biogen Inc. has a 52-week low of $181.24 and a 52-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.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.00 by $1.28. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate 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 company earned $4.02 EPS. As a group, equities research analysts anticipate that Biogen Inc. will post 16.14 EPS for the current year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BIIB. Royal Bank of Canada lowered their price target on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Needham & Company LLC reiterated a “buy” rating and issued a $285.00 target price on shares of Biogen in a report on Tuesday, September 24th. Piper Sandler decreased their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Wedbush dropped their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Finally, UBS Group decreased their target price on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.