Lazard Asset Management LLC lessened its position in Biogen Inc. (NASDAQ:BIIB – Free Report) by 9.6% in the first quarter, Holdings Channel.com reports. The firm owned 22,719 shares of the biotechnology company’s stock after selling 2,417 shares during the quarter. Lazard Asset Management LLC’s holdings in Biogen were worth $4,898,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Leo Wealth LLC acquired a new position in Biogen in the 4th quarter worth about $2,265,000. Everence Capital Management Inc. increased its holdings in Biogen by 26.6% in the 4th quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock worth $1,294,000 after purchasing an additional 1,050 shares in the last quarter. Duality Advisers LP acquired a new position in Biogen in the 1st quarter worth about $1,290,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Biogen by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock worth $83,337,000 after purchasing an additional 3,380 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in Biogen by 924.4% in the 1st quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock worth $9,962,000 after purchasing an additional 41,690 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.
Biogen Price Performance
BIIB opened at $211.59 on Monday. The firm’s fifty day moving average price is $226.29 and its two-hundred day moving average price is $224.08. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 2.13 and a beta of -0.04. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $278.95.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Analysis on Biogen
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.
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