Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Biogen Inc. (NASDAQ:BIIB)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 21.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,705 shares of the biotechnology company’s stock after purchasing an additional 7,510 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Biogen were worth $8,313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Arlington Partners LLC grew its holdings in shares of Biogen by 34.3% in the third quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after purchasing an additional 4,902 shares during the last quarter. Duality Advisers LP bought a new position in Biogen in the 1st quarter worth about $1,290,000. Tocqueville Asset Management L.P. increased its position in shares of Biogen by 924.4% during the first quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock worth $9,962,000 after acquiring an additional 41,690 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Biogen by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock valued at $83,337,000 after acquiring an additional 3,380 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Biogen by 235.1% in the first quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after purchasing an additional 10,425 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the firm’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 completion of the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Biogen Stock Down 1.2 %

NASDAQ:BIIB opened at $181.69 on Monday. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. Biogen Inc. has a twelve month low of $181.24 and a twelve month high of $268.30. The company has a market cap of $26.46 billion, a PE ratio of 22.88, a P/E/G ratio of 1.87 and a beta of -0.06. The company’s 50 day moving average is $195.28 and its two-hundred day moving average is $210.21.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $4.02 earnings per share. Analysts anticipate that Biogen Inc. will post 16.14 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays decreased their target price on Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. BMO Capital Markets lowered their price objective on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Raymond James reissued a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Robert W. Baird lowered their price target on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $292.00 price objective on shares of Biogen in a research note on Monday, September 9th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $271.39.

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.