Biogen Inc. $BIIB Shares Purchased by CENTRAL TRUST Co

CENTRAL TRUST Co boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 3,271.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,765 shares of the biotechnology company’s stock after buying an additional 5,594 shares during the quarter. CENTRAL TRUST Co’s holdings in Biogen were worth $1,302,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BIIB. BlackRock Inc. bought a new position in Biogen during the second quarter valued at about $3,453,878,000. Primecap Management Co. CA purchased a new stake in Biogen during the second quarter worth about $3,274,304,000. Wellington Management Group LLP raised its position in Biogen by 5.3% in the second quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock worth $673,560,000 after acquiring an additional 155,828 shares during the period. Pictet Asset Management Holding SA raised its position in Biogen by 139.4% in the third quarter. Pictet Asset Management Holding SA now owns 2,039,056 shares of the biotechnology company’s stock worth $460,582,000 after acquiring an additional 1,187,237 shares during the period. Finally, Amundi boosted its stake in Biogen by 91.8% in the second quarter. Amundi now owns 1,516,831 shares of the biotechnology company’s stock valued at $327,727,000 after acquiring an additional 726,004 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $253.40 on Friday. Biogen Inc. has a 12 month low of $160.36 and a 12 month high of $261.00. The company has a current ratio of 1.95, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average price of $233.35 and a 200-day moving average price of $205.04. The company has a market cap of $37.46 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.84 and a beta of 0.10.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.63. Biogen had a return on equity of 9.38% and a net margin of 3.37%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the company earned $4.81 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Biogen Inc. will post 12.46 EPS for the current year.

Analyst Ratings Changes

BIIB has been the topic of several research analyst reports. Argus upgraded Biogen from a “hold” rating to a “buy” rating and set a $280.00 price objective on the stock in a research note on Thursday, October 29th. Weiss Ratings lowered Biogen from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 29th. HC Wainwright upped their price target on Biogen from $251.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. Zacks Research upgraded Biogen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Needham & Company LLC lifted their price objective on Biogen from $256.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $254.41.

Biogen Profile

Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and Friedreich’s ataxia. Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich’s ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer’s disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.