BankPlus Trust Department Makes New $106,000 Investment in Biogen Inc. (NASDAQ:BIIB)

BankPlus Trust Department purchased a new position in Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 694 shares of the biotechnology company’s stock, valued at approximately $106,000.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Biogen in the third quarter worth about $33,000. Golden State Wealth Management LLC acquired a new position in shares of Biogen in the fourth quarter worth about $41,000. Venturi Wealth Management LLC lifted its stake in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. lifted its stake in shares of Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 90 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in shares of Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of several recent analyst reports. Canaccord Genuity Group cut their price target on 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 (Bofa) lowered their price objective on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company lowered their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Sanford C. Bernstein started coverage on Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price objective for the company. Finally, Royal Bank of Canada lowered their price objective on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $213.33.

Biogen Stock Up 0.4 %

Shares of Biogen stock opened at $141.27 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. The business’s fifty day moving average price is $144.97 and its two-hundred day moving average price is $169.97. The company has a market capitalization of $20.68 billion, a P/E ratio of 12.62, a PEG ratio of 1.51 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, research analysts forecast that Biogen Inc. will post 15.83 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.