Biogen Inc. (NASDAQ:BIIB) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Biogen Inc. (NASDAQ:BIIB) by 9.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 245,814 shares of the biotechnology company’s stock after buying an additional 22,182 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Biogen were worth $37,415,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BIIB. Signaturefd LLC boosted its holdings in shares of Biogen by 3.5% in the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after purchasing an additional 71 shares during the last quarter. Quent Capital LLC boosted its holdings in Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 72 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares during the last quarter. Principal Securities Inc. grew its position in Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 78 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock worth $767,000 after acquiring an additional 79 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BIIB shares. HC Wainwright decreased their target price on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a report on Thursday, February 13th. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Canaccord Genuity Group cut their price objective on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Sanford C. Bernstein initiated coverage on Biogen in a research report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price for the company. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $213.33.

Biogen Stock Performance

BIIB stock opened at $138.37 on Friday. The stock’s 50 day simple moving average is $141.88 and its 200 day simple moving average is $159.97. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The firm has a market cap of $20.25 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities research analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

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.