Mitsubishi UFJ Asset Management Co. Ltd. Takes $77.53 Million Position in Biogen Inc. $BIIB

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Biogen Inc. (NASDAQ:BIIB) during the second quarter, Holdings Channel reports. The firm bought 358,823 shares of the biotechnology company’s stock, valued at approximately $77,527,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. Rothschild Investment LLC raised its position in Biogen by 12.3% during the fourth quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock valued at $90,000 after acquiring an additional 56 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in Biogen by 1.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company’s stock worth $866,000 after purchasing an additional 57 shares in the last quarter. Kera Capital Partners Inc. grew its stake in shares of Biogen by 3.5% during the 1st quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company’s stock worth $316,000 after purchasing an additional 58 shares during the period. Parallel Advisors LLC increased its holdings in shares of Biogen by 1.5% during the 1st quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company’s stock valued at $801,000 after purchasing an additional 65 shares in the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Biogen by 24.4% during the 4th quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 66 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Price Performance

Biogen stock opened at $212.55 on Wednesday. The company’s fifty day moving average price is $204.36 and its 200 day moving average price is $193.76. Biogen Inc. has a 1 year low of $131.52 and a 1 year high of $219.72. The stock has a market capitalization of $31.40 billion, a P/E ratio of 37.62, a P/E/G ratio of 6.48 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities research analysts anticipate that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Citigroup increased their price target on shares of Biogen from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Royal Bank Of Canada cut their price objective on shares of Biogen from $242.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Wedbush upped their price objective on shares of Biogen from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Oppenheimer reissued an “outperform” rating and set a $300.00 target price on shares of Biogen in a research note on Wednesday, July 29th. Finally, Weiss Ratings lowered Biogen from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $227.07.

Biogen Company Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.