Biogen Inc. (NASDAQ:BIIB) Stock Holdings Decreased by City State Bank

City State Bank lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 22.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 692 shares of the biotechnology company’s stock after selling 200 shares during the period. City State Bank’s holdings in Biogen were worth $106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BIIB. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen during the 2nd quarter valued at about $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Biogen during the 3rd quarter valued at about $33,000. Venturi Wealth Management LLC grew its position in shares of 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 buying an additional 93 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Biogen by 228.7% during the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 279 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Biogen during the 3rd quarter valued at about $74,000. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 0.9 %

BIIB stock opened at $150.18 on Tuesday. Biogen Inc. has a 12 month low of $145.07 and a 12 month high of $252.17. The firm has a market cap of $21.88 billion, a PE ratio of 13.57, a P/E/G ratio of 1.74 and a beta of -0.07. The firm has a 50 day simple moving average of $156.92 and a 200 day simple moving average of $186.74. 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 (NASDAQ:BIIB) last released its 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. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business earned $4.36 earnings per share. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Equities research analysts forecast that Biogen Inc. will post 16.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BIIB shares. Wedbush lowered their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Raymond James restated a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Piper Sandler cut shares of Biogen from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $315.00 to $138.00 in a research report on Thursday, January 2nd. 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 report on Friday, October 4th. Finally, Barclays decreased their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen has a consensus rating of “Hold” and an average 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.