Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Biogen Inc. (NASDAQ:BIIB) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 245,814 shares of the biotechnology company’s stock after purchasing an additional 22,182 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of Biogen worth $37,415,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC grew its stake in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after buying an additional 141 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in shares of Biogen during the fourth quarter worth approximately $32,000. SRS Capital Advisors Inc. acquired a new position in shares of Biogen in the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in Biogen in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein initiated coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price for the company. HC Wainwright decreased their price objective on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. BMO Capital Markets dropped their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a report on Thursday, February 13th. Bank Of America (Bofa) lowered their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Scotiabank cut their price objective on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Trading Down 1.4 %

Shares of BIIB opened at $138.37 on Friday. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. 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 firm has a 50 day simple moving average of $141.88 and a 200-day simple moving average of $159.97. The stock has a market cap of $20.25 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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 analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

About Biogen

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.