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

Sompo Asset Management Co. Ltd. boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 36.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,460 shares of the biotechnology company’s stock after buying an additional 390 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Biogen were worth $338,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new position in shares of Biogen during the fourth quarter valued at $26,000. Plato Investment Management Ltd increased its holdings in shares of 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 purchasing an additional 53 shares during the period. Rise Advisors LLC acquired a new position in shares of Biogen during the first quarter valued at $27,000. Versant Capital Management Inc increased its holdings in shares of 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. Finally, EntryPoint Capital LLC acquired a new position in shares of Biogen during the first quarter valued at $36,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $292.00 price target on shares of Biogen in a report on Thursday. Wells Fargo & Company lowered their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Wedbush lowered their target price on Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Robert W. Baird lowered their target price on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.52.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Biogen Trading Down 1.0 %

NASDAQ:BIIB opened at $199.36 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $269.43. The stock’s 50-day moving average is $207.31 and its two-hundred day moving average is $215.00. The stock has a market cap of $29.03 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 2.01 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the business posted $4.02 EPS. The business’s revenue for the quarter was up .4% on a year-over-year basis. As a group, equities research analysts forecast that Biogen Inc. will post 16.12 earnings per share 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.