Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its holdings in Biogen Inc (NASDAQ:BIIB) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,838 shares of the biotechnology company’s stock after selling 1,241 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Biogen were worth $12,604,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Biogen in the 4th quarter worth approximately $716,195,000. Amundi Pioneer Asset Management Inc. boosted its position in shares of Biogen by 279.1% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 860,123 shares of the biotechnology company’s stock worth $255,223,000 after buying an additional 633,249 shares during the period. BlackRock Inc. grew its stake in shares of Biogen by 2.5% in the first quarter. BlackRock Inc. now owns 16,043,037 shares of the biotechnology company’s stock valued at $5,075,698,000 after buying an additional 384,396 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Biogen by 8.3% in the 4th quarter. Renaissance Technologies LLC now owns 4,569,906 shares of the biotechnology company’s stock valued at $1,356,028,000 after buying an additional 348,700 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Biogen by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,412,860 shares of the biotechnology company’s stock valued at $763,380,000 after buying an additional 295,556 shares during the period. Institutional investors and hedge funds own 90.73% of the company’s stock.
Shares of Biogen stock traded up $0.07 during trading hours on Friday, hitting $304.53. The company had a trading volume of 680,022 shares, compared to its average volume of 1,449,989. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.73 and a quick ratio of 1.54. The company’s 50-day moving average is $312.63 and its two-hundred day moving average is $303.36. The company has a market cap of $49.68 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54. Biogen Inc has a twelve month low of $215.77 and a twelve month high of $374.99.
Several equities analysts have weighed in on BIIB shares. Raymond James downgraded Biogen from a “market perform” rating to an “underperform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Co upped their target price on shares of Biogen from $286.00 to $311.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Royal Bank of Canada reissued a “hold” rating and issued a $310.00 price target on shares of Biogen in a research report on Thursday, April 30th. Wedbush cut their price objective on Biogen from $306.00 to $295.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Finally, Stifel Nicolaus reduced their price objective on Biogen from $296.00 to $294.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $317.46.
In related news, Director Stephen A. Sherwin sold 2,434 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $295.22, for a total value of $718,565.48. Following the completion of the sale, the director now directly owns 16,517 shares of the company’s stock, valued at approximately $4,876,148.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by insiders.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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