Asset Management One Co. Ltd. Buys 2,871 Shares of Biogen Inc. (NASDAQ:BIIB)

Asset Management One Co. Ltd. boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,226 shares of the biotechnology company’s stock after buying an additional 2,871 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Biogen were worth $8,810,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its position in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after purchasing an additional 2,648,024 shares during the period. Van ECK Associates Corp increased its stake in shares of Biogen by 977.9% in the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after buying an additional 967,523 shares during the period. International Assets Investment Management LLC increased its stake in shares of Biogen by 19,722.9% in the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after buying an additional 357,181 shares during the period. Mizuho Securities USA LLC boosted its holdings in Biogen by 2,715.9% in the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after acquiring an additional 304,778 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Biogen in the third quarter valued at $55,826,000. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BIIB shares. Bank Of America (Bofa) lowered their price target on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Canaccord Genuity Group dropped 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. Robert W. Baird upped their price target on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. lowered their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Wells Fargo & Company lowered their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $211.96.

Biogen Stock Performance

Shares of BIIB opened at $137.33 on Tuesday. The stock has a 50 day moving average price of $146.90 and a 200 day moving average price of $172.71. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $20.01 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB) last released 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 return on equity of 14.98% and a net margin of 16.81%. Research analysts predict that Biogen Inc. will post 16.42 EPS for the current fiscal 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.