Biogen Inc. $BIIB Shares Bought by CENTRAL TRUST Co

CENTRAL TRUST Co lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 3,271.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,765 shares of the biotechnology company’s stock after buying an additional 5,594 shares during the quarter. CENTRAL TRUST Co’s holdings in Biogen were worth $1,302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp raised its holdings in Biogen by 1,086.4% in the third quarter. Fifth Third Bancorp now owns 389,633 shares of the biotechnology company’s stock worth $88,010,000 after purchasing an additional 356,792 shares during the period. New Mexico Educational Retirement Board boosted its position in shares of Biogen by 1,707.3% during the third quarter. New Mexico Educational Retirement Board now owns 130,556 shares of the biotechnology company’s stock worth $29,490,000 after purchasing an additional 123,332 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of Biogen by 15.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 9,043 shares of the biotechnology company’s stock valued at $2,043,000 after buying an additional 1,200 shares during the period. First Command Advisory Services Inc. grew its holdings in shares of Biogen by 191.8% in the 3rd quarter. First Command Advisory Services Inc. now owns 569 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 374 shares during the period. Finally, Silver Grove Financial Group Inc. grew its holdings in shares of Biogen by 1,551.0% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 809 shares of the biotechnology company’s stock valued at $183,000 after buying an additional 760 shares during the period. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 1.2%

Shares of BIIB opened at $253.40 on Friday. The firm has a market cap of $37.46 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 2.84 and a beta of 0.10. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.37 and a current ratio of 1.95. Biogen Inc. has a 52 week low of $160.36 and a 52 week high of $261.00. The firm’s 50-day simple moving average is $233.35 and its 200 day simple moving average is $205.04.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 28th. The biotechnology company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.63. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.63 billion. Biogen had a net margin of 3.37% and a return on equity of 9.38%. Biogen’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $4.81 earnings per share. On average, analysts forecast that Biogen Inc. will post 12.46 earnings per share for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of several research analyst reports. Truist Financial reiterated a “buy” rating and issued a $260.00 price target (up from $235.00) on shares of Biogen in a report on Thursday, October 29th. Wall Street Zen upgraded shares of Biogen from a “hold” rating to a “strong-buy” rating in a report on Saturday, October 31st. Zacks Research raised shares of Biogen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Guggenheim upped their target price on shares of Biogen from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Finally, Wells Fargo & Company increased their target price on Biogen from $250.00 to $310.00 and gave the stock an “overweight” rating in a report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $254.41.

Biogen Profile

Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and Friedreich’s ataxia. Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich’s ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer’s disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.