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

Amalgamated Bank trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Biogen in the 3rd quarter worth approximately $33,000. Golden State Wealth Management LLC purchased a new stake in Biogen during the fourth quarter valued at approximately $41,000. Venturi Wealth Management LLC raised its position in Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares during the period. Itau Unibanco Holding S.A. boosted its stake in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 90 shares during the last quarter. Finally, Quent Capital LLC grew its position in shares of Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 72 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Up 0.4 %

Shares of BIIB opened at $140.50 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The stock has a market capitalization of $20.57 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The business’s 50 day simple moving average is $144.43 and its 200-day simple moving average is $168.73.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BIIB shares. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research note on Monday, December 16th. Canaccord Genuity Group reduced their price target on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Piper Sandler reissued a “neutral” rating and issued a $135.00 target price (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Finally, Truist Financial decreased their target price on shares of Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen currently has a consensus 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.