Daiwa Securities Group Inc. Raises Position in Biogen Inc. (NASDAQ:BIIB)

Daiwa Securities Group Inc. increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 27.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,594 shares of the biotechnology company’s stock after buying an additional 6,746 shares during the period. Daiwa Securities Group Inc.’s holdings in Biogen were worth $6,124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new position in Biogen in the 1st quarter valued at $36,000. Kennedy Capital Management LLC bought a new position in Biogen in the 1st quarter valued at $500,000. Janus Henderson Group PLC boosted its holdings in Biogen by 66.0% in the 1st quarter. Janus Henderson Group PLC now owns 35,159 shares of the biotechnology company’s stock valued at $7,581,000 after purchasing an additional 13,985 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Biogen by 2.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,475 shares of the biotechnology company’s stock valued at $749,000 after purchasing an additional 97 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in Biogen by 0.3% in the 1st quarter. California State Teachers Retirement System now owns 227,072 shares of the biotechnology company’s stock valued at $48,964,000 after purchasing an additional 650 shares during the period. 87.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BIIB shares. Raymond James reaffirmed a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Royal Bank of Canada dropped their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Robert W. Baird lifted their price objective on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Mizuho dropped their price objective on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Finally, Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $285.00 to $204.00 in a report on Thursday, October 31st. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned 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 a consensus target price of $257.20.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated 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 owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Biogen Price Performance

Biogen stock opened at $158.71 on Tuesday. Biogen Inc. has a 52-week low of $153.62 and a 52-week high of $268.30. The firm has a market capitalization of $23.13 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.49 and a beta of -0.06. The company has a fifty day simple moving average of $181.03 and a 200-day simple moving average of $204.67. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.36 EPS. On average, equities analysts anticipate that Biogen Inc. will post 16.44 EPS for the current fiscal 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.