Diversified Trust Co Has $4.50 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Diversified Trust Co lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 85.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,860 shares of the biotechnology company’s stock after purchasing an additional 9,588 shares during the quarter. Diversified Trust Co’s holdings in Biogen were worth $4,498,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Leo Wealth LLC acquired a new stake in shares of Biogen during the 4th quarter worth $2,265,000. ICICI Prudential Asset Management Co Ltd grew its holdings in shares of Biogen by 15.0% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock worth $9,313,000 after purchasing an additional 4,693 shares in the last quarter. iA Global Asset Management Inc. grew its holdings in shares of Biogen by 35.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock worth $3,102,000 after purchasing an additional 3,145 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in Biogen by 6.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock valued at $1,251,000 after buying an additional 285 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Biogen by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 15,550 shares of the biotechnology company’s stock valued at $3,997,000 after buying an additional 1,690 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on BIIB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $317.00 price objective on shares of Biogen in a research note on Wednesday, June 26th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. HC Wainwright reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, May 23rd. Barclays reduced their price objective on Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective on shares of Biogen in a research note on Monday, April 29th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $286.50.

Biogen Trading Down 0.0 %

Shares of BIIB traded down $0.07 during mid-day trading on Monday, reaching $231.75. 386,235 shares of the company were exchanged, compared to its average volume of 1,158,888. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $287.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The stock has a market capitalization of $33.74 billion, a PE ratio of 29.21, a PEG ratio of 2.33 and a beta of -0.04. The business has a 50 day simple moving average of $222.22 and a two-hundred day simple moving average of $228.36.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the company earned $3.40 earnings per share. The firm’s revenue was down 7.0% compared to the same quarter last year. On average, analysts predict that Biogen Inc. will post 15.63 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.