Bellevue Group AG Cuts Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Bellevue Group AG lessened its holdings in Biogen Inc. (NASDAQ:BIIB) by 29.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,008 shares of the biotechnology company’s stock after selling 2,477 shares during the quarter. Bellevue Group AG’s holdings in Biogen were worth $1,296,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BIIB. CVA Family Office LLC acquired a new position in Biogen in the fourth quarter valued at $36,000. IFG Advisory LLC boosted its stake in shares of Biogen by 5.5% during the fourth quarter. IFG Advisory LLC now owns 1,779 shares of the biotechnology company’s stock worth $460,000 after buying an additional 93 shares during the period. Planned Solutions Inc. acquired a new stake in shares of Biogen during the fourth quarter worth about $52,000. Altfest L J & Co. Inc. boosted its stake in shares of Biogen by 13.8% during the fourth quarter. Altfest L J & Co. Inc. now owns 1,433 shares of the biotechnology company’s stock worth $371,000 after buying an additional 174 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in shares of Biogen by 68.6% during the fourth quarter. Global Retirement Partners LLC now owns 263 shares of the biotechnology company’s stock worth $65,000 after buying an additional 107 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $294.00 price target on shares of Biogen in a report on Friday. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price target on shares of Biogen in a report on Monday, April 29th. Truist Financial reiterated a “buy” rating and issued a $340.00 price target on shares of Biogen in a report on Thursday, May 16th. Robert W. Baird dropped their price target on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $317.00 target price on shares of Biogen in a research report on Wednesday, June 26th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $283.26.

Biogen Stock Up 1.2 %

Biogen stock traded up $2.57 during trading hours on Monday, hitting $213.74. The company had a trading volume of 749,911 shares, compared to its average volume of 1,129,452. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. The firm has a market capitalization of $31.12 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 2.13 and a beta of -0.04. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $278.95. The firm’s fifty day moving average is $226.29 and its 200-day moving average is $224.08.

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.