Centre Asset Management LLC Has $7.88 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

Centre Asset Management LLC boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 7.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,530 shares of the biotechnology company’s stock after purchasing an additional 3,698 shares during the quarter. Centre Asset Management LLC’s holdings in Biogen were worth $7,880,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Inspire Trust Co. N.A. raised its position in shares of Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after buying an additional 4,025 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after acquiring an additional 12,319 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Biogen by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after acquiring an additional 5,270 shares during the period. Arlington Partners LLC grew its holdings in shares of Biogen by 34.3% during the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after purchasing an additional 4,902 shares in the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of Biogen by 1,107.5% in the third quarter. Edgestream Partners L.P. now owns 11,218 shares of the biotechnology company’s stock worth $2,174,000 after purchasing an additional 10,289 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BIIB shares. Needham & Company LLC cut shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective for the company. in a research report on Monday, November 18th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and reduced their price target for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. HC Wainwright reissued a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, October 31st. Mizuho reduced their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Finally, BMO Capital Markets cut Biogen from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $230.00 to $164.00 in a report on Friday, December 20th. Seventeen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Hold” and a consensus price target of $235.68.

Biogen Trading Up 1.3 %

Biogen stock traded up $2.00 during mid-day trading on Friday, hitting $152.00. 128,492 shares of the stock were exchanged, compared to its average volume of 584,197. The firm’s fifty day simple moving average is $160.79 and its two-hundred day simple moving average is $190.86. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $145.07 and a 12 month high of $264.58. The stock has a market capitalization of $22.15 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.74 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (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 for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the business earned $4.36 earnings per share. Biogen’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts forecast that Biogen Inc. will post 16.43 EPS for the current year.

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.