Raymond James Trust N.A. Purchases 80 Shares of Biogen Inc. (NASDAQ:BIIB)

Raymond James Trust N.A. lifted its position in Biogen Inc. (NASDAQ:BIIB) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,993 shares of the biotechnology company’s stock after buying an additional 80 shares during the period. Raymond James Trust N.A.’s holdings in Biogen were worth $580,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Plato Investment Management Ltd raised its holdings in shares of Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Biogen during the second quarter valued at approximately $33,000. Ashton Thomas Securities LLC bought a new position in Biogen in the third quarter worth approximately $33,000. EntryPoint Capital LLC purchased a new stake in Biogen during the first quarter worth $36,000. Finally, Versant Capital Management Inc boosted its position in Biogen by 123.2% during the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 85 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Trading Up 0.5 %

BIIB opened at $158.71 on Tuesday. The firm has a market capitalization of $23.13 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.49 and a beta of -0.06. The company’s 50 day simple moving average is $181.03 and its two-hundred day simple moving average is $204.67. Biogen Inc. has a 1-year low of $153.62 and a 1-year high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business posted $4.36 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. Analysts expect that Biogen Inc. will post 16.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BIIB shares. Needham & Company LLC cut Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective for the company. in a research note on Monday, November 18th. Wells Fargo & Company lowered their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. TD Cowen reduced their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Wolfe Research began coverage on Biogen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, BMO Capital Markets reduced their price target on Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.20.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

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.