Centre Asset Management LLC Acquires 3,698 Shares of Biogen Inc. (NASDAQ:BIIB)

Centre Asset Management LLC raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,530 shares of the biotechnology company’s stock after acquiring an additional 3,698 shares during the quarter. Centre Asset Management LLC’s holdings in Biogen were worth $7,880,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen in the 2nd quarter valued at $33,000. Ashton Thomas Securities LLC acquired a new position in Biogen in the third quarter valued at about $33,000. Venturi Wealth Management LLC increased its holdings 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. Rothschild Investment LLC acquired a new stake in shares of Biogen during the second quarter worth about $60,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Biogen by 228.7% during the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler cut Biogen from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $315.00 to $138.00 in a research note on Thursday. Barclays dropped their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Wedbush reduced their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Needham & Company LLC downgraded Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research note on Monday, November 18th. Finally, Oppenheimer cut their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Seventeen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Biogen presently has an average rating of “Hold” and an average target price of $235.68.

Biogen Stock Performance

BIIB stock traded up $2.00 during midday trading on Friday, reaching $152.00. 128,492 shares of the company were exchanged, compared to its average volume of 584,197. Biogen Inc. has a one year low of $145.07 and a one year high of $264.58. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.74 and a beta of -0.08. The business has a 50-day moving average price of $160.79 and a two-hundred day moving average price of $190.86. 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 earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Biogen’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.36 EPS. Equities research analysts forecast that Biogen Inc. will post 16.43 EPS for the current year.

Biogen Company 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.