Blue Trust Inc. Purchases 184 Shares of Biogen Inc. (NASDAQ:BIIB)

Blue Trust Inc. boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 39.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 656 shares of the biotechnology company’s stock after buying an additional 184 shares during the period. Blue Trust Inc.’s holdings in Biogen were worth $100,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in Biogen in the 2nd quarter worth about $1,387,000. Park Avenue Securities LLC boosted its holdings in shares of Biogen by 4.0% during the 3rd quarter. Park Avenue Securities LLC now owns 2,630 shares of the biotechnology company’s stock valued at $510,000 after acquiring an additional 101 shares during the last quarter. Czech National Bank grew its stake in shares of Biogen by 6.9% in the third quarter. Czech National Bank now owns 29,672 shares of the biotechnology company’s stock worth $5,752,000 after acquiring an additional 1,928 shares during the period. UMB Bank n.a. raised its holdings in shares of Biogen by 72.1% during the third quarter. UMB Bank n.a. now owns 425 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 178 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Biogen by 521.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,430 shares of the biotechnology company’s stock valued at $277,000 after purchasing an additional 1,200 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Down 2.2 %

Shares of NASDAQ BIIB opened at $142.37 on Friday. The company has a market cap of $20.75 billion, a P/E ratio of 12.86, a PEG ratio of 1.66 and a beta of -0.08. The firm has a 50-day simple moving average of $149.88 and a two-hundred day simple moving average of $176.96. Biogen Inc. has a 1 year low of $139.71 and a 1 year high of $246.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Truist Financial cut their price objective on Biogen from $302.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. William Blair reissued an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and cut their price target for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, Citigroup reduced their price target on shares of Biogen from $190.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Sixteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $228.80.

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.