Biogen Inc. (NASDAQ:BIIB) Shares Sold by Mengis Capital Management Inc.

Mengis Capital Management Inc. lowered its holdings in Biogen Inc. (NASDAQ:BIIBFree Report) by 0.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,055 shares of the biotechnology company’s stock after selling 50 shares during the quarter. Mengis Capital Management Inc.’s holdings in Biogen were worth $2,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Biogen by 0.6% in the 2nd quarter. BlackRock Inc. now owns 14,065,994 shares of the biotechnology company’s stock valued at $4,006,698,000 after buying an additional 79,773 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Biogen by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after buying an additional 183,285 shares during the period. State Street Corp lifted its holdings in shares of Biogen by 2.8% in the 1st quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock valued at $1,518,196,000 after buying an additional 197,400 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Biogen by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,183,679 shares of the biotechnology company’s stock valued at $904,582,000 after buying an additional 80,944 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Biogen by 49.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock valued at $580,627,000 after buying an additional 691,843 shares during the period. Hedge funds and other institutional investors own 85.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. StockNews.com downgraded Biogen from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Wednesday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $305.00 price target on shares of Biogen in a research report on Thursday, October 26th. BMO Capital Markets dropped their price target on Biogen from $314.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, November 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $311.00 price target on shares of Biogen in a research report on Wednesday, December 20th. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus price target of $317.52.

Read Our Latest Stock Analysis on BIIB

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 110 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $248.00, for a total value of $27,280.00. Following the sale, the insider now directly owns 3,464 shares in the company, valued at $859,072. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by company insiders.

Biogen Stock Up 1.6 %

Shares of BIIB stock traded up $3.76 during mid-day trading on Monday, reaching $244.74. 948,921 shares of the company were exchanged, compared to its average volume of 943,501. The business’s 50 day simple moving average is $249.60 and its 200 day simple moving average is $252.44. Biogen Inc. has a fifty-two week low of $220.86 and a fifty-two week high of $319.76. The company has a market capitalization of $35.46 billion and a P/E ratio of 24.24. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.68.

Biogen Profile

(Free Report)

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 offers 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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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