Biogen Inc. (NASDAQ:BIIB) Position Cut by Amalgamated Bank

Amalgamated Bank reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,623 shares of the biotechnology company’s stock after selling 805 shares during the quarter. Amalgamated Bank’s holdings in Biogen were worth $5,548,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd boosted its stake in Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Biogen during the 2nd quarter valued at $33,000. EntryPoint Capital LLC bought a new position in Biogen during the 1st quarter valued at $36,000. Versant Capital Management Inc lifted its position in shares of Biogen by 123.2% during the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 85 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 127 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Trading Down 0.3 %

Biogen stock opened at $173.92 on Friday. The company has a market capitalization of $25.34 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.64 and a beta of -0.06. The company’s fifty day moving average price is $190.96 and its two-hundred day moving average price is $209.10. Biogen Inc. has a one year low of $170.71 and a one year high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the business posted $4.36 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. On average, analysts forecast that Biogen Inc. will post 16.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. HC Wainwright reiterated a “buy” rating and set a $300.00 price objective on shares of Biogen in a research report on Thursday, October 31st. Mizuho cut their price objective on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Barclays cut their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $292.00 target price on shares of Biogen in a report on Monday, September 9th. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Biogen currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.58.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

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.