Triangle Securities Wealth Management lowered its stake in Biogen Inc. (NASDAQ:BIIB – Get Rating) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,581 shares of the biotechnology company’s stock after selling 372 shares during the quarter. Triangle Securities Wealth Management’s holdings in Biogen were worth $715,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Exos TFP Holdings LLC acquired a new stake in shares of Biogen in the third quarter valued at about $126,000. Brookstone Capital Management grew its stake in Biogen by 44.9% during the 3rd quarter. Brookstone Capital Management now owns 7,235 shares of the biotechnology company’s stock valued at $1,835,000 after purchasing an additional 2,242 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Biogen by 1.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 19,951 shares of the biotechnology company’s stock valued at $4,069,000 after purchasing an additional 367 shares in the last quarter. Assetmark Inc. grew its stake in Biogen by 39.7% during the 3rd quarter. Assetmark Inc. now owns 1,528 shares of the biotechnology company’s stock valued at $408,000 after purchasing an additional 434 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in Biogen by 29.9% during the 3rd quarter. Trexquant Investment LP now owns 6,749 shares of the biotechnology company’s stock valued at $1,802,000 after purchasing an additional 1,553 shares in the last quarter. Institutional investors and hedge funds own 84.40% of the company’s stock.
Biogen Trading Down 0.8 %
Shares of NASDAQ BIIB opened at $263.16 on Friday. The company has a market cap of $38.02 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 2.24 and a beta of 0.19. Biogen Inc. has a 12-month low of $187.16 and a 12-month high of $311.88. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $278.59 and its 200 day simple moving average is $269.42.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on BIIB shares. The Goldman Sachs Group restated a “buy” rating and set a $370.00 price objective on shares of Biogen in a research note on Thursday, December 1st. Morgan Stanley raised their price objective on Biogen from $345.00 to $351.00 and gave the company an “overweight” rating in a research note on Thursday, February 16th. Needham & Company LLC restated a “buy” rating and set a $325.00 price objective on shares of Biogen in a research note on Wednesday, February 15th. HC Wainwright restated a “buy” rating and set a $325.00 price objective on shares of Biogen in a research note on Thursday, February 16th. Finally, Oppenheimer reduced their target price on Biogen from $320.00 to $310.00 and set an “outperform” rating on the stock in a report on Thursday, February 16th. Seven analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $315.38.
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. Its products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA, ADUHELM for the treatment of Alzheimer’s disease, and FUMADERM for the treatment of severe plaque psoriasis.
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