Farmers Trust Co. Invests $1.97 Million in Biogen Inc. (NASDAQ:BIIB)

Farmers Trust Co. purchased a new position in Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,849 shares of the biotechnology company’s stock, valued at approximately $1,965,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in Biogen in the second quarter valued at $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Biogen during the third quarter worth approximately $33,000. Venturi Wealth Management LLC increased its position in Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares during the period. Versant Capital Management Inc raised its stake in 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 acquiring an additional 279 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of Biogen in the third quarter worth $74,000. 87.93% of the stock is owned by institutional investors.

Biogen Stock Down 1.2 %

NASDAQ BIIB traded down $1.82 during trading on Wednesday, hitting $151.33. 544,831 shares of the company traded hands, compared to its average volume of 1,046,015. The business has a fifty day simple moving average of $158.96 and a 200 day simple moving average of $188.87. Biogen Inc. has a 12 month low of $145.07 and a 12 month high of $257.28. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $22.05 billion, a P/E ratio of 13.67, a PEG ratio of 1.74 and a beta of -0.07.

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. Biogen had a net margin of 16.81% and a return on equity of 14.98%. 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 firm posted $4.36 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts predict that Biogen Inc. will post 16.43 EPS for the current year.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of recent analyst reports. Mizuho dropped their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Needham & Company LLC lowered Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a research note on Monday, November 18th. BMO Capital Markets downgraded Biogen from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $230.00 to $164.00 in a research note on Friday, December 20th. Wolfe Research initiated coverage on Biogen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Finally, UBS Group dropped their price target on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $232.40.

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.