Biogen Inc. (NASDAQ:BIIB) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lowered its position in Biogen Inc. (NASDAQ:BIIBFree Report) by 15.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,235 shares of the biotechnology company’s stock after selling 777 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Biogen were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. Norges Bank acquired a new position in Biogen in the fourth quarter valued at $362,129,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Biogen by 49.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock worth $580,627,000 after acquiring an additional 691,843 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Biogen by 204.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 446,602 shares of the biotechnology company’s stock worth $114,781,000 after acquiring an additional 300,086 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Biogen by 24.5% in the third quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock worth $305,725,000 after acquiring an additional 233,889 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Biogen by 113.6% in the first quarter. AQR Capital Management LLC now owns 422,486 shares of the biotechnology company’s stock worth $117,012,000 after acquiring an additional 224,668 shares in the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.

Biogen Trading Up 0.3 %

NASDAQ BIIB opened at $240.98 on Monday. Biogen Inc. has a 1-year low of $220.86 and a 1-year high of $319.76. The company has a current ratio of 1.68, a quick ratio of 1.09 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $34.92 billion and a PE ratio of 23.95. The firm’s fifty day simple moving average is $249.60 and its 200-day simple moving average is $252.44.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wedbush cut their price target on Biogen from $266.00 to $239.00 and set a “neutral” rating on the stock in a research note on Thursday, November 9th. Royal Bank of Canada boosted their price objective on Biogen from $351.00 to $363.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. BTIG Research reissued a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Morgan Stanley boosted their price objective on Biogen from $361.00 to $373.00 and gave the company an “overweight” rating in a report on Friday, November 10th. Finally, UBS Group lowered Biogen from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $311.00 to $276.00 in a report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $318.17.

Check Out Our Latest Stock Analysis on BIIB

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 110 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $248.00, for a total value of $27,280.00. Following the transaction, the insider now directly owns 3,464 shares of the company’s stock, valued at $859,072. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by company insiders.

Biogen Profile

(Free Report)

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 offers 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.

See Also

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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