Peapack Gladstone Financial Corp Sells 82 Shares of Biogen Inc. (NASDAQ:BIIB)

Peapack Gladstone Financial Corp cut its stake in Biogen Inc. (NASDAQ:BIIB) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,803 shares of the biotechnology company’s stock after selling 82 shares during the period. Peapack Gladstone Financial Corp’s holdings in Biogen were worth $349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BIIB. First Horizon Advisors Inc. increased its holdings in Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 49 shares during the period. Grandfield & Dodd LLC raised its position in Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 62 shares in the last quarter. Quintet Private Bank Europe S.A. lifted its stake in Biogen by 9.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 63 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Biogen by 1.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,122 shares of the biotechnology company’s stock valued at $1,419,000 after purchasing an additional 64 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BIIB shares. Wedbush cut their target price on Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Wolfe Research assumed coverage on shares of Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $292.00 target price on shares of Biogen in a report on Monday, September 9th. Mizuho cut their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Finally, Oppenheimer decreased their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and a consensus target price of $245.32.

Biogen Stock Up 0.3 %

Shares of Biogen stock opened at $150.49 on Tuesday. The business has a fifty day simple moving average of $170.55 and a 200 day simple moving average of $197.67. The stock has a market cap of $21.93 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $148.60 and a 12 month high of $268.30.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $4.36 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts predict 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.