Lazard Asset Management LLC Has $4.90 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Lazard Asset Management LLC cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,719 shares of the biotechnology company’s stock after selling 2,417 shares during the quarter. Lazard Asset Management LLC’s holdings in Biogen were worth $4,898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Livelsberger Financial Advisory acquired a new stake in shares of Biogen in the fourth quarter valued at $26,000. Rise Advisors LLC bought a new position in Biogen in the first quarter valued at about $27,000. Hexagon Capital Partners LLC boosted its holdings in Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 51 shares during the last quarter. EntryPoint Capital LLC bought a new position in Biogen in the first quarter valued at about $36,000. Finally, Atticus Wealth Management LLC bought a new position in Biogen in the first quarter valued at about $43,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BIIB. HC Wainwright reiterated a “buy” rating and issued a $300.00 price target on shares of Biogen in a report on Thursday, May 23rd. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price target on shares of Biogen in a report on Monday, April 29th. Wedbush raised their price target on Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Finally, Piper Sandler reduced their target price on Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $283.26.

Biogen Stock Up 0.2 %

Shares of Biogen stock opened at $211.59 on Monday. The business’s 50 day simple moving average is $226.29 and its 200 day simple moving average is $224.08. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $278.95. The firm has a market cap of $30.81 billion, a PE ratio of 26.36, a P/E/G ratio of 2.13 and a beta of -0.04. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

About Biogen

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.