Mitsubishi UFJ Trust & Banking Corp Cuts Position in Biogen Inc. (NASDAQ:BIIB)

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Biogen Inc. (NASDAQ:BIIBFree Report) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,773 shares of the biotechnology company’s stock after selling 1,219 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Biogen worth $24,872,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Horizon Bancorp Inc. IN increased its holdings in shares of Biogen by 128.2% in the second quarter. Horizon Bancorp Inc. IN now owns 89 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Altshuler Shaham Ltd acquired a new stake in Biogen during the fourth quarter worth about $25,000. OFI Invest Asset Management acquired a new stake in Biogen during the third quarter worth about $26,000. Gladius Capital Management LP acquired a new stake in Biogen during the third quarter worth about $29,000. Finally, Indiana Trust & Investment Management CO acquired a new stake in Biogen during the third quarter worth about $37,000. 85.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BIIB shares. Wedbush dropped their target price on Biogen from $266.00 to $239.00 and set a “neutral” rating on the stock in a report on Thursday, November 9th. Stifel Nicolaus lowered their price target on Biogen from $315.00 to $287.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $311.00 price target on shares of Biogen in a research report on Wednesday, December 20th. StockNews.com downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Morgan Stanley increased their price target on Biogen from $361.00 to $373.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $318.17.

Read Our Latest Stock Report on Biogen

Insider Activity

In other news, insider Priya Singhal sold 110 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $248.00, for a total value of $27,280.00. Following the completion of the sale, the insider now directly owns 3,464 shares of the company’s stock, valued at approximately $859,072. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Biogen Stock Up 0.3 %

Shares of NASDAQ BIIB opened at $240.98 on Monday. The company has a market capitalization of $34.92 billion and a price-to-earnings ratio of 23.95. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.68 and a quick ratio of 1.09. The business has a 50-day moving average of $249.60 and a two-hundred day moving average of $252.44. Biogen Inc. has a 1 year low of $220.86 and a 1 year high of $319.76.

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 offers 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.

See Also

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.