Central Bank & Trust Co. Cuts Holdings in Biogen Inc. (NASDAQ:BIIB)

Central Bank & Trust Co. decreased its position in Biogen Inc. (NASDAQ:BIIB) by 3.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,757 shares of the biotechnology company’s stock after selling 69 shares during the period. Central Bank & Trust Co.’s holdings in Biogen were worth $379,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new stake in shares of Biogen in the fourth quarter valued at about $26,000. Rise Advisors LLC purchased a new stake in shares of Biogen in the 1st quarter valued at approximately $27,000. Gladius Capital Management LP purchased a new stake in shares of Biogen in the 3rd quarter valued at approximately $28,000. KB Financial Partners LLC increased its stake in Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after buying an additional 62 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in Biogen by 76.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Down 0.7 %

Shares of BIIB traded down $1.58 during mid-day trading on Friday, reaching $224.00. 3,013,444 shares of the stock traded hands, compared to its average volume of 864,553. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $218.90 and a 200 day simple moving average of $229.06. The firm has a market cap of $32.61 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 2.27 and a beta of -0.02. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $296.46.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.40 earnings per share. Sell-side analysts expect that Biogen Inc. will post 15.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of several analyst reports. Bank of America lowered their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Wedbush upped their price objective on shares of Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. HC Wainwright restated a “buy” rating and set a $300.00 price objective on shares of Biogen in a research report on Thursday, May 23rd. Truist Financial reiterated a “buy” rating and issued a $340.00 price target on shares of Biogen in a report on Thursday, May 16th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $270.00 price target on shares of Biogen in a report on Monday, April 29th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $286.50.

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.