Asset Management One Co. Ltd. Has $8.81 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Asset Management One Co. Ltd. increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,226 shares of the biotechnology company’s stock after buying an additional 2,871 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Biogen were worth $8,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BIIB. Ashton Thomas Securities LLC purchased a new position in shares of Biogen during the third quarter valued at $33,000. Golden State Wealth Management LLC purchased a new position in Biogen in the fourth quarter valued at about $41,000. Venturi Wealth Management LLC grew its stake in Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. grew its stake in Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 90 shares in the last quarter. Finally, Quent Capital LLC grew its stake in Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $137.33 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The company has a market cap of $20.01 billion, a PE ratio of 12.41, a P/E/G ratio of 1.65 and a beta of -0.08. The business has a 50-day simple moving average of $146.90 and a two-hundred day simple moving average of $172.71. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. As a group, equities analysts expect that Biogen Inc. will post 16.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Bank of America reiterated a “neutral” rating and set a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research note on Monday, December 16th. Citigroup decreased their price target on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Piper Sandler downgraded Biogen from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $315.00 to $138.00 in a research note on Thursday, January 2nd. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Biogen currently has a consensus rating of “Hold” and an average target price of $211.96.

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.