Biogen Inc. $BIIB Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Biogen Inc. (NASDAQ:BIIB) by 7.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 294,269 shares of the biotechnology company’s stock after buying an additional 20,721 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Biogen were worth $36,957,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen in the 1st quarter valued at $27,000. Vision Financial Markets LLC acquired a new stake in Biogen during the 1st quarter worth about $27,000. Zions Bancorporation National Association UT purchased a new stake in Biogen during the 1st quarter valued at about $29,000. Concord Wealth Partners increased its holdings in shares of Biogen by 100.0% in the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 114 shares during the period. Finally, NewSquare Capital LLC raised its stake in shares of Biogen by 134.6% in the second quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 140 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BIIB has been the topic of a number of recent research reports. William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Wall Street Zen downgraded shares of Biogen from a “buy” rating to a “hold” rating in a report on Sunday. Truist Financial assumed coverage on shares of Biogen in a research note on Monday, July 21st. They issued a “hold” rating and a $142.00 price objective on the stock. Citigroup reissued a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Finally, Morgan Stanley upped their price target on shares of Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Ten research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $177.46.

Biogen Stock Performance

BIIB opened at $156.26 on Tuesday. The firm has a fifty day moving average price of $146.54 and a 200 day moving average price of $135.27. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $175.86. The stock has a market cap of $22.92 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.17 and a beta of 0.10. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate of $3.89 by $0.92. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the completion of the transaction, the insider owned 5,772 shares in the company, valued at $770,850.60. The trade was a 8.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Biogen Company 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.