Sumitomo Mitsui DS Asset Management Company Ltd Has $4.59 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,753 shares of the biotechnology company’s stock after selling 80 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Biogen were worth $4,594,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BIIB. International Assets Investment Management LLC increased its stake in Biogen by 24,726.3% in the 4th quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock valued at $123,411,000 after buying an additional 474,992 shares during the period. abrdn plc raised its holdings in shares of Biogen by 237.4% during the fourth quarter. abrdn plc now owns 437,075 shares of the biotechnology company’s stock worth $113,102,000 after acquiring an additional 307,532 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Biogen by 204.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 446,602 shares of the biotechnology company’s stock valued at $114,781,000 after purchasing an additional 300,086 shares during the last quarter. Van ECK Associates Corp grew its stake in Biogen by 24.5% in the third quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock valued at $305,725,000 after purchasing an additional 233,889 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Biogen by 28.7% in the 3rd quarter. American Century Companies Inc. now owns 898,928 shares of the biotechnology company’s stock worth $231,033,000 after purchasing an additional 200,310 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on BIIB. StockNews.com cut Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. BMO Capital Markets decreased their target price on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Mizuho cut their price target on shares of Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Wells Fargo & Company lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $315.00 to $240.00 in a research note on Wednesday, February 14th. Finally, Needham & Company LLC lowered their target price on shares of Biogen from $305.00 to $300.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $295.58.

Biogen Stock Down 0.1 %

Shares of BIIB opened at $194.11 on Tuesday. The firm has a market capitalization of $28.22 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.85 and a beta of -0.02. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The business’s fifty day moving average price is $214.22 and its two-hundred day moving average price is $235.11.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business earned $4.05 earnings per share. On average, analysts predict that Biogen Inc. will post 15.48 earnings per share for the current year.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Priya Singhal sold 419 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is currently owned by company insiders.

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.