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

Ballentine Partners LLC lifted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 59.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,440 shares of the biotechnology company’s stock after acquiring an additional 911 shares during the period. Ballentine Partners LLC’s holdings in Biogen were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after purchasing an additional 357,181 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after purchasing an additional 304,778 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Biogen in the 3rd quarter worth about $55,826,000. State Street Corp increased its holdings in Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in Biogen by 122.1% in the 3rd quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock worth $82,886,000 after buying an additional 235,100 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Trading Up 0.6 %

BIIB stock opened at $143.67 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a 1-year low of $139.71 and a 1-year high of $251.99. The business has a 50 day simple moving average of $152.63 and a two-hundred day simple moving average of $182.79. The company has a market capitalization of $20.94 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.62 and a beta of -0.07.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on BIIB. Wells Fargo & Company dropped their price target on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Royal Bank of Canada decreased their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. BMO Capital Markets downgraded Biogen from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $230.00 to $164.00 in a research note on Friday, December 20th. Finally, Wolfe Research assumed coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Sixteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.