Peapack Gladstone Financial Corp Has $349,000 Position in Biogen Inc. (NASDAQ:BIIB)

Peapack Gladstone Financial Corp lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 4.4% during the 3rd quarter, HoldingsChannel reports. 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 institutional investors and hedge funds have also modified their holdings of BIIB. Itau Unibanco Holding S.A. bought a new position in Biogen during the 2nd quarter worth about $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Biogen during the third quarter worth about $33,000. Blue Trust Inc. grew its holdings in shares of Biogen by 249.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after buying an additional 127 shares in the last quarter. First Horizon Advisors Inc. raised its position 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 last quarter. Finally, Venturi Wealth Management LLC boosted its position in Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BIIB. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and cut their price objective for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Wedbush cut their price target on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Citigroup assumed coverage on Biogen in a report on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $292.00 price target on shares of Biogen in a research note on Monday, September 9th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $245.32.

Biogen Trading Up 0.3 %

Shares of Biogen stock opened at $150.49 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The firm has a 50-day moving average of $170.55 and a 200-day moving average of $197.67. Biogen Inc. has a 52-week low of $148.60 and a 52-week high of $268.30. The stock has a market cap of $21.93 billion, a PE ratio of 13.59, a PEG ratio of 1.83 and a beta of -0.08.

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