Mitsubishi UFJ Trust & Banking Corp Grows Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,614 shares of the biotechnology company’s stock after purchasing an additional 2,443 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Biogen were worth $12,480,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC increased its position in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 141 shares during the period. Lee Danner & Bass Inc. purchased a new position in shares of Biogen during the fourth quarter valued at about $25,000. OFI Invest Asset Management bought a new position in Biogen in the fourth quarter worth about $32,000. SRS Capital Advisors Inc. purchased a new stake in Biogen in the fourth quarter worth about $33,000. Finally, Golden State Wealth Management LLC bought a new stake in Biogen during the 4th quarter valued at approximately $41,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Biogen Stock Performance

BIIB stock opened at $138.37 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The company has a market cap of $20.25 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The stock’s fifty day moving average price is $141.88 and its 200-day moving average price is $159.97.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, equities analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

BIIB has been the subject of several research reports. HC Wainwright decreased their target price on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. BMO Capital Markets decreased their price objective on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Truist Financial decreased their price target on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Bank Of America (Bofa) lowered their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $213.33.

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.