Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 260.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 830 shares of the biotechnology company’s stock after purchasing an additional 600 shares during the period. Biogen comprises about 0.9% of Mitsubishi UFJ Securities Holdings Co. Ltd.’s investment portfolio, making the stock its 24th biggest position. Mitsubishi UFJ Securities Holdings Co. Ltd.’s holdings in Biogen were worth $293,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in BIIB. Morgan Stanley grew its holdings in shares of Biogen by 61.1% during the 2nd quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock valued at $508,240,000 after purchasing an additional 664,096 shares during the last quarter. Mainstay Capital Management LLC ADV grew its holdings in Biogen by 21,407.0% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 665,213 shares of the biotechnology company’s stock worth $2,537,000 after acquiring an additional 662,120 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in Biogen in the 3rd quarter worth $218,735,000. Renaissance Technologies LLC grew its holdings in Biogen by 163.2% in the 3rd quarter. Renaissance Technologies LLC now owns 846,075 shares of the biotechnology company’s stock worth $298,927,000 after acquiring an additional 524,575 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Biogen by 32.1% in the 3rd quarter. American Century Companies Inc. now owns 1,507,871 shares of the biotechnology company’s stock worth $532,746,000 after acquiring an additional 366,361 shares during the last quarter. 87.16% of the stock is currently owned by institutional investors.
In related news, EVP Michael D. Ehlers sold 1,000 shares of Biogen stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.
A number of brokerages have recently weighed in on BIIB. ValuEngine raised shares of Biogen from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. JPMorgan Chase & Co. cut their target price on shares of Biogen from $445.00 to $436.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Oppenheimer set a $400.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Friday, October 19th. BidaskClub lowered shares of Biogen from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Citigroup cut their target price on shares of Biogen from $483.00 to $470.00 and set a “buy” rating on the stock in a research note on Monday, October 8th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Biogen presently has an average rating of “Buy” and a consensus target price of $382.58.
NASDAQ BIIB traded down $4.15 during trading hours on Thursday, reaching $318.58. 4,691 shares of the company’s stock traded hands, compared to its average volume of 1,060,527. Biogen Inc has a 52-week low of $249.17 and a 52-week high of $388.67. The stock has a market cap of $65.02 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.75 and a quick ratio of 2.46.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.78 by $0.62. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the company posted $6.31 EPS. Biogen’s revenue was up 11.7% on a year-over-year basis. Research analysts expect that Biogen Inc will post 25.82 earnings per share for the current fiscal year.
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Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
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