Meiji Yasuda Asset Management Co Ltd. Purchases 128 Shares of Biogen Inc. (NASDAQ:BIIB)

Meiji Yasuda Asset Management Co Ltd. boosted its position in Biogen Inc. (NASDAQ:BIIB) by 6.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,229 shares of the biotechnology company’s stock after buying an additional 128 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Biogen were worth $517,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Jump Financial LLC acquired a new stake in shares of Biogen during the 4th quarter worth approximately $346,000. Dynamic Technology Lab Private Ltd acquired a new stake in Biogen in the fourth quarter worth $213,000. Gladstone Institutional Advisory LLC bought a new stake in Biogen in the fourth quarter valued at $249,000. Corient Private Wealth LLC raised its holdings in shares of Biogen by 37.1% during the fourth quarter. Corient Private Wealth LLC now owns 31,212 shares of the biotechnology company’s stock valued at $8,077,000 after purchasing an additional 8,453 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Biogen by 3.3% during the 4th quarter. Assetmark Inc. now owns 5,035 shares of the biotechnology company’s stock worth $1,303,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Biogen Stock Down 1.0 %

BIIB opened at $199.36 on Friday. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $269.43. The company’s 50-day moving average price is $207.31 and its two-hundred day moving average price is $215.02. The stock has a market cap of $29.03 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 2.01 and a beta of -0.06. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 EPS 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 business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the business earned $4.02 earnings per share. Biogen’s revenue for the quarter was up .4% on a year-over-year basis. As a group, equities analysts expect that Biogen Inc. will post 16.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Truist Financial reaffirmed a “buy” rating and set a $302.00 target price (down from $340.00) on shares of Biogen in a research report on Monday, August 5th. StockNews.com upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $292.00 price objective on shares of Biogen in a research note on Monday, September 9th. Finally, Mizuho reduced their price objective on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.52.

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.