Daiwa Securities Group Inc. Increases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Daiwa Securities Group Inc. raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 9.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,848 shares of the biotechnology company’s stock after buying an additional 2,197 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Biogen were worth $5,760,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BIIB. Livelsberger Financial Advisory purchased a new position in shares of Biogen in the 4th quarter valued at approximately $26,000. Plato Investment Management Ltd increased its stake in Biogen by 82.8% during the 1st 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 in the last quarter. Rise Advisors LLC purchased a new position in shares of Biogen in the first quarter worth $27,000. Versant Capital Management Inc lifted its stake 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 worth $36,000 after buying an additional 85 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of Biogen in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of research reports. Robert W. Baird lowered their price target on Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $285.00 price objective on shares of Biogen in a research note on Wednesday, September 4th. Royal Bank of Canada raised their price objective on shares of Biogen from $282.00 to $292.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Scotiabank dropped their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Wedbush decreased their price objective on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average target price of $275.52.

Biogen Trading Down 0.8 %

Shares of BIIB opened at $199.09 on Thursday. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $269.43. The stock has a market cap of $28.99 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.03 and a beta of -0.06. The firm’s fifty day moving average is $211.66 and its two-hundred day moving average is $216.09. 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 results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the firm posted $4.02 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. Research analysts forecast that Biogen Inc. will post 16.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.