Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,051 shares of the biotechnology company’s stock after selling 4,253 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.15% of Biogen worth $59,563,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Disciplined Investments LLC increased its position in shares of Biogen by 489.4% during the first quarter. Disciplined Investments LLC now owns 277 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 230 shares in the last quarter. Bank Pictet & Cie Asia Ltd. increased its position in shares of Biogen by 50.2% during the first quarter. Bank Pictet & Cie Asia Ltd. now owns 4,716 shares of the biotechnology company’s stock worth $1,319,000 after purchasing an additional 1,577 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Biogen during the first quarter worth approximately $4,278,000. Varma Mutual Pension Insurance Co purchased a new stake in shares of Biogen during the first quarter worth approximately $1,398,000. Finally, Stevens Capital Management LP purchased a new stake in Biogen in the 1st quarter valued at $429,000. 85.10% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. Oppenheimer upped their target price on Biogen from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, May 18th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Biogen from a “sell” rating to a “neutral” rating and upped their target price for the company from $200.00 to $440.00 in a report on Tuesday. Barclays upped their price target on Biogen from $265.00 to $395.00 and gave the company an “equal weight” rating in a research note on Tuesday. Morgan Stanley upped their price target on Biogen from $343.00 to $455.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Bank of America raised Biogen from an “underperform” rating to a “neutral” rating and upped their price target for the company from $235.00 to $400.00 in a research note on Monday. Sixteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Biogen has a consensus rating of “Buy” and a consensus price target of $374.34.
NASDAQ:BIIB opened at $414.71 on Friday. The stock’s 50 day moving average price is $282.68. Biogen Inc. has a 52-week low of $223.25 and a 52-week high of $468.55. The stock has a market cap of $62.44 billion, a P/E ratio of 21.76, a PEG ratio of 1.87 and a beta of 0.44. The company has a quick ratio of 1.75, a current ratio of 2.12 and a debt-to-equity ratio of 0.68.
Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 21st. The biotechnology company reported $5.34 earnings per share for the quarter, beating the consensus estimate of $5.06 by $0.28. Biogen had a return on equity of 42.04% and a net margin of 23.89%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the business posted $9.14 EPS. The company’s revenue was down 23.8% on a year-over-year basis. Equities research analysts predict that Biogen Inc. will post 18.43 EPS for the current fiscal year.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
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