Biogen Inc. (NASDAQ:BIIB) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its position in Biogen Inc. (NASDAQ:BIIB) by 27.1% during the third quarter, HoldingsChannel reports. The firm owned 31,594 shares of the biotechnology company’s stock after buying an additional 6,746 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Biogen were worth $6,124,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Plato Investment Management Ltd lifted its stake in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Biogen in the 2nd quarter valued at about $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Biogen in the 3rd quarter valued at about $33,000. EntryPoint Capital LLC purchased a new stake in shares of Biogen in the 1st quarter valued at about $36,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 85 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BIIB. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. TD Cowen reduced 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. Wedbush dropped their target price on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. BMO Capital Markets dropped their target price on Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Wolfe Research started coverage on Biogen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Biogen has an average rating of “Moderate Buy” and an average target price of $257.20.

Insider Activity

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 transaction 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. This trade represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Biogen Stock Up 0.5 %

Shares of NASDAQ BIIB opened at $158.71 on Tuesday. Biogen Inc. has a 12-month low of $153.62 and a 12-month high of $268.30. The company has a market cap of $23.13 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.49 and a beta of -0.06. 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 stock has a fifty day moving average price of $181.03 and a 200 day moving average price of $204.67.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm earned $4.36 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts anticipate that Biogen Inc. will post 16.44 EPS for the current fiscal year.

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.