China Universal Asset Management Co. Ltd. Lowers Holdings in Biogen Inc. (NASDAQ:BIIB)

China Universal Asset Management Co. Ltd. reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 7.0% in the 4th quarter, Holdings Channel reports. The fund owned 33,354 shares of the biotechnology company’s stock after selling 2,509 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Biogen were worth $5,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of BIIB. Grandfield & Dodd LLC increased its stake in Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares during the last quarter. Quintet Private Bank Europe S.A. boosted its holdings in shares of Biogen by 9.7% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 63 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 77 shares in the last quarter. Huntington National Bank grew its position in shares of Biogen by 3.5% in the 3rd quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock valued at $447,000 after buying an additional 79 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Biogen by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock worth $767,000 after acquiring an additional 79 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. BMO Capital Markets downgraded shares of Biogen from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $230.00 to $164.00 in a research note on Friday, December 20th. Piper Sandler downgraded Biogen from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $315.00 to $138.00 in a research note on Thursday, January 2nd. Barclays decreased their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. TD Cowen dropped their price objective on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a research report on Monday, December 16th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $228.80.

Biogen Stock Performance

Shares of BIIB stock opened at $143.93 on Friday. Biogen Inc. has a 52 week low of $139.71 and a 52 week high of $251.99. The company’s fifty day simple moving average is $150.79 and its 200-day simple moving average is $179.03. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a market cap of $20.97 billion, a PE ratio of 13.00, a P/E/G ratio of 1.66 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.36 earnings per share. As a group, equities research analysts anticipate that Biogen Inc. will post 16.43 EPS for the current year.

Biogen 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.