Blue Trust Inc. Has $38,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

Blue Trust Inc. lifted its stake in Biogen Inc. (NASDAQ:BIIB) by 249.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 178 shares of the biotechnology company’s stock after buying an additional 127 shares during the period. Blue Trust Inc.’s holdings in Biogen were worth $38,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Plato Investment Management Ltd grew its position in 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 acquiring an additional 53 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of Biogen in the 4th quarter worth about $26,000. Rise Advisors LLC acquired a new stake in shares of Biogen during the 1st quarter worth about $27,000. Hexagon Capital Partners LLC lifted its holdings in Biogen by 76.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 51 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Biogen in the first quarter valued at about $36,000. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BIIB shares. Wedbush dropped their price objective on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. StockNews.com upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Truist Financial reissued a “buy” rating and issued a $302.00 price objective (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th. Oppenheimer restated an “outperform” rating and issued a $270.00 target price on shares of Biogen in a research note on Monday, April 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $285.00 price target on shares of Biogen in a research report on Monday, August 19th. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $276.35.

Biogen Price Performance

Shares of Biogen stock opened at $205.00 on Friday. The company has a 50-day simple moving average of $217.76 and a two-hundred day simple moving average of $218.54. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $270.50. The stock has a market capitalization of $29.85 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 2.09 and a beta of -0.04. The company has a quick ratio of 1.32, a current ratio of 2.29 and a debt-to-equity ratio of 0.40.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business earned $4.02 earnings per share. Analysts forecast that Biogen Inc. will post 15.87 EPS 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.