Nomura Asset Management Co. Ltd. Purchases 1,495 Shares of Biogen Inc. (NASDAQ:BIIB)

Nomura Asset Management Co. Ltd. increased its holdings in Biogen Inc. (NASDAQ:BIIBFree Report) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 71,695 shares of the biotechnology company’s stock after buying an additional 1,495 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Biogen were worth $18,553,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BIIB. Wellington Management Group LLP raised its holdings in Biogen by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after purchasing an additional 27,951 shares in the last quarter. Northern Trust Corp raised its stake in Biogen by 2.8% in the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after buying an additional 45,437 shares in the last quarter. Morgan Stanley lifted its holdings in Biogen by 4.3% in the third quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock worth $383,745,000 after buying an additional 61,814 shares during the period. Norges Bank bought a new stake in Biogen during the 4th quarter valued at approximately $378,728,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Biogen by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,424,659 shares of the biotechnology company’s stock worth $368,685,000 after acquiring an additional 43,444 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

NASDAQ:BIIB opened at $217.81 on Monday. The business’s 50-day simple moving average is $212.88 and its two-hundred day simple moving average is $229.49. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The stock has a market cap of $31.71 billion, a PE ratio of 27.19, a P/E/G ratio of 2.20 and a beta of -0.01. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIBGet Free Report) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the business posted $3.40 earnings per share. The firm’s revenue was down 7.0% on a year-over-year basis. As a group, analysts forecast that Biogen Inc. will post 15.59 EPS for the current fiscal year.

Analyst Ratings Changes

BIIB has been the topic of several research reports. BMO Capital Markets dropped their price target on Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Robert W. Baird cut their price objective on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Piper Sandler dropped their target price on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. JPMorgan Chase & Co. lowered their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Finally, Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $315.00 to $240.00 in a research report on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and a consensus price target of $288.46.

View Our Latest Report on Biogen

About Biogen

(Free Report)

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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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