Mufg Securities Americas Inc. Acquires 656 Shares of Biogen Inc. $BIIB

Mufg Securities Americas Inc. boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 25.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,247 shares of the biotechnology company’s stock after purchasing an additional 656 shares during the period. Mufg Securities Americas Inc.’s holdings in Biogen were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in shares of Biogen by 153.6% during the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock worth $187,258,000 after buying an additional 829,150 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in Biogen by 85.9% during the second quarter. AustralianSuper Pty Ltd now owns 739,416 shares of the biotechnology company’s stock worth $92,863,000 after acquiring an additional 341,719 shares in the last quarter. Vanguard Group Inc. raised its holdings in Biogen by 1.7% during the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock worth $2,330,774,000 after acquiring an additional 283,964 shares in the last quarter. State of Michigan Retirement System boosted its position in Biogen by 633.7% during the second quarter. State of Michigan Retirement System now owns 291,303 shares of the biotechnology company’s stock valued at $36,585,000 after purchasing an additional 251,600 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in Biogen by 1,036.1% in the second quarter. Acadian Asset Management LLC now owns 199,462 shares of the biotechnology company’s stock valued at $25,044,000 after purchasing an additional 181,905 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on Biogen from $128.00 to $150.00 in a research note on Friday, October 31st. Wall Street Zen downgraded shares of Biogen from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Tudor Pickering set a $157.00 price target on shares of Biogen in a research report on Monday, November 3rd. Morgan Stanley lifted their price objective on shares of Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Finally, Wedbush upped their target price on shares of Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Biogen has an average rating of “Hold” and a consensus price target of $178.96.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the completion of the sale, the insider directly owned 5,772 shares in the company, valued at $770,850.60. The trade was a 8.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Biogen Stock Up 0.9%

Shares of BIIB opened at $176.82 on Tuesday. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $185.17. The firm has a market cap of $25.94 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10. The firm’s 50-day simple moving average is $151.51 and its 200 day simple moving average is $138.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.92. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the business posted $4.08 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

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.