Bedrijfstakpensioenfonds Voor DE Media PNO trimmed its position in Biogen Inc (NASDAQ:BIIB) by 24.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,000 shares of the biotechnology company’s stock after selling 15,000 shares during the period. Biogen makes up about 1.7% of Bedrijfstakpensioenfonds Voor DE Media PNO’s portfolio, making the stock its 27th largest holding. Bedrijfstakpensioenfonds Voor DE Media PNO’s holdings in Biogen were worth $9,824,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trustcore Financial Services LLC boosted its position in shares of Biogen by 152.3% during the 2nd quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 67 shares in the last quarter. Bourgeon Capital Management LLC acquired a new position in Biogen in the third quarter worth approximately $30,000. Ruggie Capital Group acquired a new position in Biogen in the second quarter worth approximately $33,000. Next Capital Management LLC grew its position in Biogen by 101.3% in the second quarter. Next Capital Management LLC now owns 151 shares of the biotechnology company’s stock worth $35,000 after buying an additional 76 shares during the last quarter. Finally, Sandy Spring Bank increased its holdings in shares of Biogen by 43.5% in the third quarter. Sandy Spring Bank now owns 165 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.
NASDAQ BIIB traded up $0.58 during trading on Tuesday, reaching $292.97. 611,884 shares of the company’s stock were exchanged, compared to its average volume of 1,640,796. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.35. Biogen Inc has a fifty-two week low of $215.77 and a fifty-two week high of $344.00. The company’s fifty day simple moving average is $280.13 and its 200-day simple moving average is $243.47. The firm has a market capitalization of $54.10 billion, a PE ratio of 11.18, a P/E/G ratio of 1.63 and a beta of 1.08.
A number of equities research analysts have recently commented on BIIB shares. Mizuho reiterated a “hold” rating and set a $235.00 price objective on shares of Biogen in a research report on Tuesday, October 22nd. HC Wainwright lifted their target price on Biogen from $300.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “hold” rating and set a $267.00 target price on shares of Biogen in a research report on Monday, November 18th. ValuEngine raised Biogen from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird lowered Biogen from a “neutral” rating to an “underperform” rating and set a $250.00 price target for the company. in a research report on Monday. Five analysts have rated the stock with a sell rating, twenty-one have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $289.69.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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