Mizuho Securities USA LLC Grows Position in Biogen Inc. (NASDAQ:BIIB)

Mizuho Securities USA LLC grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 2,715.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 316,000 shares of the biotechnology company's stock after purchasing an additional 304,778 shares during the quarter. Mizuho Securities USA LLC owned approximately 0.22% of Biogen worth $61,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Plato Investment Management Ltd increased its holdings in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company's stock valued at $25,000 after buying an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Biogen in the 2nd quarter worth $33,000. Ashton Thomas Securities LLC bought a new position in Biogen in the 3rd quarter worth $33,000. EntryPoint Capital LLC purchased a new position in Biogen during the first quarter valued at $36,000. Finally, Versant Capital Management Inc grew its holdings in Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company's stock valued at $36,000 after purchasing an additional 85 shares during the period. Institutional investors own 87.93% of the company's stock.

Insider Activity

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company's stock, valued at approximately $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BIIB shares. Oppenheimer reduced their target price on shares of Biogen from $270.00 to $255.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Raymond James restated a "market perform" rating on shares of Biogen in a research note on Thursday, October 10th. BMO Capital Markets cut their price target on Biogen from $260.00 to $230.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Needham & Company LLC restated a "buy" rating and issued a $270.00 price objective on shares of Biogen in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company cut their target price on Biogen from $240.00 to $225.00 and set an "equal weight" rating for the company in a research report on Friday, August 2nd. Twelve equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $258.96.

Biogen Stock Down 3.0 %

Shares of BIIB traded down $4.90 during midday trading on Friday, reaching $159.99. 1,917,074 shares of the stock were exchanged, compared to its average volume of 1,169,550. The company has a market capitalization of $23.31 billion, a P/E ratio of 14.45, a PEG ratio of 1.57 and a beta of -0.06. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 52 week low of $159.60 and a 52 week high of $268.30. The company's 50 day moving average is $185.99 and its two-hundred day moving average is $207.38.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm posted $4.36 EPS. The company's revenue for the quarter was down 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that Biogen Inc. will post 16.4 earnings per share for the current year.

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.