Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. boosted its position in Biogen Inc. (NASDAQ:BIIB) by 21.4% in the third quarter, HoldingsChannel.com reports. The firm owned 4,272 shares of the biotechnology company’s stock after purchasing an additional 754 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Biogen were worth $828,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BIIB. Vanguard Group Inc. boosted its stake in 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 buying an additional 2,163,068 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after acquiring an additional 357,181 shares during the last quarter. RA Capital Management L.P. boosted its position in shares of Biogen by 39.0% during the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after purchasing an additional 207,835 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Biogen by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after purchasing an additional 117,578 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Biogen in the 1st quarter worth approximately $22,939,000. 87.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on 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 $1,085,633.52. This represents a 7.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

Biogen Stock Performance

BIIB opened at $159.99 on Friday. The stock has a 50-day moving average of $186.80 and a 200-day moving average of $207.77. 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 Inc. has a 52-week low of $159.60 and a 52-week high of $268.30. The company has a market cap of $23.31 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.57 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.36 earnings per share. As a group, equities research analysts forecast that Biogen Inc. will post 16.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BIIB. Oppenheimer dropped their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Wedbush cut 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. Robert W. Baird lifted their price target on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. cut their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Barclays decreased their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $258.96.

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.