Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 2,715.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 316,000 shares of the biotechnology company’s stock after buying an additional 304,778 shares during the period. Mizuho Securities USA LLC’s holdings in Biogen were worth $61,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Biogen by 15.0% during the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after acquiring an additional 2,163,068 shares during the period. Primecap Management Co. CA increased its position in shares of Biogen by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after purchasing an additional 117,578 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Biogen by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after buying an additional 81,283 shares in the last quarter. RA Capital Management L.P. lifted its holdings in shares of Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after buying an additional 207,835 shares during the period. Finally, abrdn plc boosted its stake in Biogen by 6.2% during the third quarter. abrdn plc now owns 568,510 shares of the biotechnology company’s stock valued at $110,123,000 after buying an additional 33,333 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BIIB shares. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price target on shares of Biogen in a research report on Wednesday, October 30th. Raymond James reiterated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Royal Bank of Canada reduced their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $285.00 to $204.00 in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Twelve analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $258.96.

Biogen Trading Down 3.0 %

Shares of NASDAQ BIIB opened at $159.99 on Friday. The business has a 50 day simple moving average of $185.99 and a 200 day simple moving average of $207.38. Biogen Inc. has a 52 week low of $159.60 and a 52 week high of $268.30. The stock has a market cap of $23.31 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.57 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The company 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 company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.36 earnings per share. On average, research analysts predict that Biogen Inc. will post 16.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the company’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 owns 5,316 shares in the company, valued at approximately $1,085,633.52. This represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.