Asset Management One Co. Ltd. Boosts Stake in Biogen Inc. (NASDAQ:BIIB)

Asset Management One Co. Ltd. boosted its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 5.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 58,226 shares of the biotechnology company's stock after purchasing an additional 2,871 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Biogen were worth $8,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Biogen in the third quarter worth $33,000. Golden State Wealth Management LLC bought a new stake in Biogen in the 4th quarter worth about $41,000. Venturi Wealth Management LLC lifted its stake in Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock valued at $42,000 after acquiring an additional 93 shares during the period. Itau Unibanco Holding S.A. boosted its holdings in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company's stock valued at $45,000 after acquiring an additional 90 shares during the last quarter. Finally, Quent Capital LLC boosted its holdings in shares of Biogen by 31.9% during the 4th 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. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Biogen from $192.00 to $157.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Scotiabank dropped their price target on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 13th. Canaccord Genuity Group reduced their price objective on Biogen from $298.00 to $265.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Robert W. Baird increased their target price on Biogen from $294.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, November 15th. Finally, Citigroup cut their price target on Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $211.85.

Biogen Price Performance

Shares of BIIB stock traded up $3.56 during mid-day trading on Friday, hitting $140.64. The company had a trading volume of 1,807,566 shares, compared to its average volume of 1,448,624. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a market capitalization of $20.59 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.47 and a beta of -0.08. The stock's 50 day moving average price is $145.34 and its 200-day moving average price is $171.22. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Equities research analysts forecast that Biogen Inc. will post 15.84 earnings per share for the current year.

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.