Daiwa Securities Group Inc. Sells 6,600 Shares of Biogen Inc. (NASDAQ:BIIB)

Daiwa Securities Group Inc. cut its position in Biogen Inc. (NASDAQ:BIIB) by 24.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,479 shares of the biotechnology company’s stock after selling 6,600 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Biogen were worth $5,299,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BIIB. Everence Capital Management Inc. raised its stake in Biogen by 26.6% in the 4th quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock valued at $1,294,000 after acquiring an additional 1,050 shares during the period. DGS Capital Management LLC raised its position in shares of Biogen by 4.2% in the fourth quarter. DGS Capital Management LLC now owns 1,265 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 51 shares during the period. SVB Wealth LLC raised its position in shares of Biogen by 48.0% in the fourth quarter. SVB Wealth LLC now owns 1,174 shares of the biotechnology company’s stock valued at $304,000 after purchasing an additional 381 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Biogen by 29.5% during the 4th quarter. Mackenzie Financial Corp now owns 60,626 shares of the biotechnology company’s stock valued at $15,688,000 after buying an additional 13,796 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Biogen by 93.1% in the 4th quarter. Vontobel Holding Ltd. now owns 37,337 shares of the biotechnology company’s stock worth $9,662,000 after buying an additional 18,005 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. BTIG Research reissued a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. BMO Capital Markets decreased their price objective on Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Piper Sandler cut their target price on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Wedbush reduced their target price on Biogen from $245.00 to $213.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Truist Financial reissued a “buy” rating and issued a $340.00 price target on shares of Biogen in a report on Monday, March 25th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.58.

Biogen Stock Up 2.0 %

Shares of NASDAQ:BIIB opened at $194.38 on Friday. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $319.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The stock’s 50-day moving average is $215.23 and its 200 day moving average is $235.83. The company has a market cap of $28.26 billion, a PE ratio of 24.36, a P/E/G ratio of 1.81 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the firm posted $4.05 earnings per share. Sell-side analysts anticipate that Biogen Inc. will post 15.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is currently owned by corporate insiders.

Biogen 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.