Asset Management One Co. Ltd. Increases Holdings in Biogen Inc. (NASDAQ:BIIB)

Asset Management One Co. Ltd. increased its position in Biogen Inc. (NASDAQ:BIIB) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,355 shares of the biotechnology company’s stock after purchasing an additional 324 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Biogen were worth $10,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BIIB. Vanguard Group Inc. increased its stake in shares of Biogen by 15.0% during the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after buying an additional 2,163,068 shares during the period. Primecap Management Co. CA increased its position in Biogen by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after purchasing an additional 117,578 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Biogen by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after purchasing an additional 81,283 shares during the period. RA Capital Management L.P. increased its holdings in Biogen by 39.0% during the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after buying an additional 207,835 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Biogen by 27.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock worth $123,024,000 after buying an additional 122,101 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $174.40 on Thursday. The company has a 50 day simple moving average of $190.96 and a two-hundred day simple moving average of $209.10. The stock has a market cap of $25.41 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.64 and a beta of -0.06. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $170.71 and a 12 month high of $268.30.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.36 earnings per share. As a group, analysts predict that Biogen Inc. will post 16.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BIIB. JPMorgan Chase & Co. cut their price target on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday. Robert W. Baird cut their target price on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 price target on shares of Biogen in a research report on Monday, September 9th. Royal Bank of Canada cut their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Wells Fargo & Company decreased their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.58.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

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.