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

BankPlus Trust Department acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 694 shares of the biotechnology company’s stock, valued at approximately $106,000.

A number of other hedge funds also recently added to or reduced their stakes in BIIB. Blue Trust Inc. lifted its position in Biogen by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 472 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 294 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Biogen by 10.6% in the 3rd quarter. Private Advisor Group LLC now owns 9,645 shares of the biotechnology company’s stock valued at $1,870,000 after buying an additional 924 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Biogen by 1.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 43,349 shares of the biotechnology company’s stock valued at $8,403,000 after buying an additional 612 shares during the period. Allworth Financial LP lifted its holdings in shares of Biogen by 12.9% in the 3rd quarter. Allworth Financial LP now owns 1,181 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 135 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Biogen by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,705 shares of the biotechnology company’s stock valued at $8,313,000 after buying an additional 7,510 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several recent analyst reports. Robert W. Baird raised their price target on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. The Goldman Sachs Group reduced their price target on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Canaccord Genuity Group reduced their price target on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Morgan Stanley dropped their price objective on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $141.27 on Tuesday. The company has a market cap of $20.68 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.51 and a beta of -0.08. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The business has a fifty day simple moving average of $144.97 and a 200-day simple moving average of $169.97.

Biogen (NASDAQ:BIIB) last issued its earnings results 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 return on equity of 14.98% and a net margin of 16.87%. Equities 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.