Clark Estates Inc. NY Acquires 150 Shares of Biogen Inc. (NASDAQ:BIIB)

Clark Estates Inc. NY grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,300 shares of the biotechnology company’s stock after buying an additional 150 shares during the quarter. Clark Estates Inc. NY’s holdings in Biogen were worth $2,493,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Biogen by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 971,263 shares of the biotechnology company’s stock valued at $148,526,000 after acquiring an additional 58,234 shares in the last quarter. State of Michigan Retirement System grew its holdings in Biogen by 59.9% during the 4th quarter. State of Michigan Retirement System now owns 63,503 shares of the biotechnology company’s stock worth $9,711,000 after acquiring an additional 23,800 shares during the period. Mission Wealth Management LP raised its position in shares of Biogen by 12.3% during the 4th quarter. Mission Wealth Management LP now owns 2,321 shares of the biotechnology company’s stock valued at $355,000 after acquiring an additional 254 shares during the last quarter. Quintet Private Bank Europe S.A. lifted its stake in shares of Biogen by 99.3% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 1,415 shares of the biotechnology company’s stock valued at $216,000 after purchasing an additional 705 shares during the period. Finally, Plato Investment Management Ltd bought a new position in shares of Biogen in the 4th quarter worth $159,000. 87.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and dropped their price objective for the company from $250.00 to $180.00 in a report on Monday, December 9th. Wolfe Research assumed coverage on shares of Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Canaccord Genuity Group reduced their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Bank of America reaffirmed a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. Finally, Bank Of America (Bofa) reduced their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $213.33.

Biogen Stock Up 0.7 %

Biogen stock opened at $142.65 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. The company has a fifty day simple moving average of $144.15 and a 200 day simple moving average of $167.42. The company has a market cap of $20.88 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal 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.