Ballentine Partners LLC Raises Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Ballentine Partners LLC lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 59.6% in the fourth quarter, HoldingsChannel reports. The firm owned 2,440 shares of the biotechnology company’s stock after purchasing an additional 911 shares during the quarter. Ballentine Partners LLC’s holdings in Biogen were worth $373,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Biogen during the third quarter valued at $33,000. Venturi Wealth Management LLC raised its position in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of 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 acquiring an additional 90 shares during the last quarter. FSA Wealth Management LLC purchased a new position in Biogen in the third quarter worth about $74,000. Finally, TD Private Client Wealth LLC increased its stake in Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 0.6 %

Shares of NASDAQ BIIB opened at $143.67 on Friday. Biogen Inc. has a 12-month low of $139.71 and a 12-month high of $251.99. The stock’s fifty day simple moving average is $152.63 and its two-hundred day simple moving average is $182.79. The stock has a market capitalization of $20.94 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.62 and a beta of -0.07. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.36 earnings per share. As a group, analysts expect that Biogen Inc. will post 16.41 EPS for the current fiscal year.

Analyst Ratings Changes

BIIB has been the subject of a number of recent research reports. Royal Bank of Canada dropped their target price on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. BMO Capital Markets lowered shares of Biogen from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $230.00 to $164.00 in a report on Friday, December 20th. Robert W. Baird upped their price target on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, Raymond James reissued a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Biogen currently has a consensus rating of “Hold” and a consensus target price of $230.00.

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.