Amalgamated Bank Reduces Stock Position in Biogen Inc. (NASDAQ:BIIB)

Amalgamated Bank lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,201 shares of the biotechnology company’s stock after selling 422 shares during the period. Amalgamated Bank’s holdings in Biogen were worth $4,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIIB. Ashton Thomas Securities LLC bought a new stake in shares of Biogen in the 3rd quarter worth approximately $33,000. Golden State Wealth Management LLC bought a new stake in Biogen in the fourth quarter valued at $41,000. Venturi Wealth Management LLC increased 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 valued at $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. raised its holdings in Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares in the last quarter. Finally, Quent Capital LLC lifted its position in shares of Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 0.4 %

Shares of NASDAQ:BIIB opened at $140.50 on Friday. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The stock’s fifty day moving average price is $144.43 and its 200-day moving average price is $168.73. The company has a market cap of $20.57 billion, a P/E ratio of 12.56, a PEG ratio of 1.51 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Mizuho reduced their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Robert W. Baird raised their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Jefferies Financial Group lowered Biogen from a “buy” rating to a “hold” rating and dropped their price target for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $213.33.

Biogen 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.