Versant Capital Management Inc Buys 279 Shares of Biogen Inc. (NASDAQ:BIIB)

Versant Capital Management Inc raised its position in Biogen Inc. (NASDAQ:BIIB) by 228.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 401 shares of the biotechnology company’s stock after buying an additional 279 shares during the period. Versant Capital Management Inc’s holdings in Biogen were worth $61,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Biogen during the second quarter valued at $33,000. Ashton Thomas Securities LLC bought a new stake in Biogen during the 3rd quarter worth about $33,000. Venturi Wealth Management LLC lifted its position in 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 purchasing an additional 93 shares during the period. FSA Wealth Management LLC bought a new position in shares of Biogen in the 3rd quarter valued at about $74,000. Finally, TD Private Client Wealth LLC boosted its stake in shares of Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Up 1.5 %

Shares of NASDAQ:BIIB opened at $152.21 on Monday. The company’s 50-day moving average price is $160.20 and its two-hundred day moving average price is $190.11. Biogen Inc. has a one year low of $145.07 and a one year high of $264.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock has a market capitalization of $22.18 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.74 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.36 earnings per share. On average, equities analysts forecast that Biogen Inc. will post 16.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on BIIB. JPMorgan Chase & Co. cut their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. UBS Group reduced their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada dropped their price objective on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. HC Wainwright reissued a “buy” rating and issued a $300.00 target price on shares of Biogen in a research note on Thursday, October 31st. Finally, Morgan Stanley lowered Biogen from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $285.00 to $204.00 in a research report on Thursday, October 31st. Seventeen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of “Hold” and a consensus target price of $235.68.

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.