Mengis Capital Management Inc. Has $2.07 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Mengis Capital Management Inc. decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIBFree Report) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 quarter.

Several other institutional investors have also recently bought and sold shares of the business. Horizon Bancorp Inc. IN increased its stake in shares of Biogen by 128.2% in the second quarter. Horizon Bancorp Inc. IN now owns 89 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 50 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of Biogen in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management bought a new stake in Biogen in the third quarter valued at approximately $26,000. Gladius Capital Management LP bought a new stake in Biogen in the third quarter valued at approximately $29,000. Finally, Indiana Trust & Investment Management CO bought a new stake in Biogen in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 85.99% of the company’s stock.

Biogen Stock Up 1.6 %

BIIB stock traded up $3.76 during midday trading on Monday, hitting $244.74. The stock had a trading volume of 948,921 shares, compared to its average volume of 943,501. The firm has a market cap of $35.46 billion and a price-to-earnings ratio of 24.24. The business has a 50-day moving average of $249.60 and a two-hundred day moving average of $252.44. Biogen Inc. has a 52-week low of $220.86 and a 52-week high of $319.76. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.68 and a quick ratio of 1.09.

Insider Buying and Selling

In other news, insider Priya Singhal sold 110 shares of the 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 of the company’s stock, valued at $859,072. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BIIB. Royal Bank of Canada upped their target price on Biogen from $363.00 to $379.00 and gave the company an “overweight” rating in a report on Monday. Wedbush upped their target price on Biogen from $239.00 to $245.00 and gave the company a “neutral” rating in a report on Monday. BMO Capital Markets reduced their target price on Biogen from $314.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, November 9th. Stifel Nicolaus reduced their target price on Biogen from $315.00 to $287.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Finally, UBS Group cut Biogen from a “buy” rating to a “neutral” rating and cut their price target for the stock from $311.00 to $276.00 in a report on Wednesday, January 24th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $317.52.

View Our Latest Research Report on Biogen

Biogen Company 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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