Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in Biogen Inc (NASDAQ:BIIB) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,838 shares of the biotechnology company’s stock after selling 1,241 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Biogen were worth $12,604,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Advisory Alpha LLC increased its holdings in Biogen by 318.8% in the fourth quarter. Advisory Alpha LLC now owns 134 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 102 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of Biogen in the 1st quarter worth approximately $207,000. Islay Capital Management LLC bought a new stake in shares of Biogen in the 4th quarter valued at approximately $95,000. Brooktree Capital Management acquired a new stake in shares of Biogen during the 4th quarter valued at approximately $290,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Biogen by 1.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,118 shares of the biotechnology company’s stock worth $925,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 90.73% of the company’s stock.
A number of brokerages have weighed in on BIIB. Morgan Stanley dropped their target price on shares of Biogen from $302.00 to $301.00 and set an “underweight” rating on the stock in a report on Thursday, April 23rd. Robert W. Baird increased their price objective on shares of Biogen from $250.00 to $290.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 5th. Nomura Securities lifted their target price on Biogen from $320.00 to $392.00 and gave the company a “buy” rating in a research note on Friday, February 7th. HC Wainwright reiterated a “buy” rating and set a $335.00 price target on shares of Biogen in a research report on Thursday, February 6th. Finally, SunTrust Banks cut their price target on Biogen from $360.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the stock. Biogen presently has a consensus rating of “Hold” and an average price target of $317.46.
In other news, Director Stephen A. Sherwin sold 2,434 shares of Biogen stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $295.22, for a total value of $718,565.48. Following the transaction, the director now directly owns 16,517 shares of the company’s stock, valued at $4,876,148.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.
Biogen stock traded up $0.07 during mid-day trading on Friday, hitting $304.53. The company’s stock had a trading volume of 680,022 shares, compared to its average volume of 1,449,989. Biogen Inc has a twelve month low of $215.77 and a twelve month high of $374.99. The stock’s fifty day moving average price is $312.63 and its two-hundred day moving average price is $303.36. The stock has a market capitalization of $49.68 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.66 and a beta of 0.54. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.39.
Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 22nd. The biotechnology company reported $9.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.73 by $1.41. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.41 billion. Biogen had a return on equity of 49.22% and a net margin of 40.76%. Biogen’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.98 earnings per share. Equities analysts expect that Biogen Inc will post 33.13 earnings per share for the current year.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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