Mitsubishi UFJ Trust & Banking Corp Increases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Biogen Inc. (NASDAQ:BIIB) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,614 shares of the biotechnology company’s stock after acquiring an additional 2,443 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Biogen worth $12,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Inspire Trust Co. N.A. grew its holdings in shares of Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares during the period. Centre Asset Management LLC boosted its holdings in shares of Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 3,698 shares during the last quarter. Amundi boosted its holdings in shares of Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after buying an additional 319,478 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Biogen by 48.0% during the fourth quarter. Nordea Investment Management AB now owns 117,963 shares of the biotechnology company’s stock worth $17,901,000 after buying an additional 38,283 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of Biogen stock opened at $138.37 on Friday. The business’s 50-day moving average price is $141.88 and its 200-day moving average price is $159.97. The firm has a market capitalization of $20.25 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BIIB. The Goldman Sachs Group reduced their target price on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Sanford C. Bernstein began coverage on Biogen in a research report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price for the company. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Canaccord Genuity Group cut their price target on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $213.33.

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.