Sumitomo Mitsui DS Asset Management Company Ltd Has $2.72 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in Biogen Inc. (NASDAQ:BIIB) by 9.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,761 shares of the biotechnology company’s stock after selling 1,941 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Biogen were worth $2,716,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIIB. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Biogen by 5.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 391,496 shares of the biotechnology company’s stock worth $59,868,000 after acquiring an additional 21,368 shares during the period. Strategic Financial Concepts LLC bought a new stake in Biogen in the 4th quarter valued at $2,993,000. Bleakley Financial Group LLC lifted its holdings in Biogen by 49.9% during the 4th quarter. Bleakley Financial Group LLC now owns 1,608 shares of the biotechnology company’s stock valued at $246,000 after purchasing an additional 535 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Biogen by 11.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,553 shares of the biotechnology company’s stock worth $7,191,000 after purchasing an additional 4,848 shares during the period. Finally, Win Advisors Inc. acquired a new position in shares of Biogen in the fourth quarter valued at $1,022,000. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BIIB. Robert W. Baird lifted their target price on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. JPMorgan Chase & Co. reduced their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. BMO Capital Markets lowered Biogen from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $230.00 to $164.00 in a research note on Friday, December 20th. Needham & Company LLC downgraded Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a research note on Monday, November 18th. Finally, Morgan Stanley lowered Biogen from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $285.00 to $204.00 in a report on Thursday, October 31st. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $228.80.

Biogen Trading Down 0.7 %

NASDAQ BIIB opened at $141.35 on Monday. The company has a market cap of $20.60 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. Biogen Inc. has a twelve month low of $139.71 and a twelve month high of $244.95. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average is $149.14 and its 200 day moving average is $175.79.

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.