Amalgamated Bank lowered its holdings in Biogen Inc. (NASDAQ:BIIB – Get Rating) by 6.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 36,865 shares of the biotechnology company’s stock after selling 2,667 shares during the period. Amalgamated Bank’s holdings in Biogen were worth $7,764,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rovin Capital UT ADV grew its holdings in Biogen by 47.3% in the 1st quarter. Rovin Capital UT ADV now owns 2,550 shares of the biotechnology company’s stock valued at $537,000 after buying an additional 819 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Biogen during the 1st quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Biogen by 24.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,060 shares of the biotechnology company’s stock worth $27,391,000 after purchasing an additional 25,663 shares in the last quarter. City State Bank grew its holdings in shares of Biogen by 38.2% during the 1st quarter. City State Bank now owns 705 shares of the biotechnology company’s stock worth $149,000 after purchasing an additional 195 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Biogen during the 1st quarter worth approximately $355,000. Institutional investors and hedge funds own 83.45% of the company’s stock.
Biogen Trading Up 0.7 %
BIIB stock opened at $208.26 on Friday. The company has a market cap of $30.22 billion, a P/E ratio of 14.85, a PEG ratio of 0.94 and a beta of 0.43. Biogen Inc. has a twelve month low of $187.16 and a twelve month high of $304.21. The company has a quick ratio of 1.68, a current ratio of 1.94 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $210.00 and a 200-day moving average of $207.17.
Wall Street Analyst Weigh In
BIIB has been the topic of several recent research reports. Royal Bank of Canada decreased their price objective on Biogen from $264.00 to $259.00 in a report on Wednesday, July 20th. Guggenheim decreased their price objective on Biogen to $190.00 in a report on Friday, July 22nd. Oppenheimer lifted their price objective on Biogen from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, July 18th. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 27th. Finally, Cowen cut their target price on Biogen from $285.00 to $270.00 in a research report on Thursday, July 21st. Thirteen research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $257.36.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
- Get a free copy of the StockNews.com research report on Biogen (BIIB)
- Stock Market: 3 Islands Of Strength In A Sea Of Red
- 3 Banks Worth Considering For Q4
- MarketBeat: Week in Review 9/12 – 9/16
- No One Told These 3 Stocks It’s a Down Week
- Is There a Cure for What is Ailing Teladoc Stock?
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.