Mitsubishi UFJ Asset Management Co. Ltd. Buys 13,110 Shares of Biogen Inc. $BIIB

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Biogen Inc. (NASDAQ:BIIB) by 4.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 307,379 shares of the biotechnology company’s stock after acquiring an additional 13,110 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Biogen were worth $43,058,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Biogen by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock valued at $2,171,533,000 after purchasing an additional 257,812 shares during the period. State Street Corp increased its stake in Biogen by 1.0% in the 2nd quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock worth $938,007,000 after acquiring an additional 71,897 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Biogen by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company’s stock valued at $490,089,000 after acquiring an additional 71,286 shares in the last quarter. Invesco Ltd. boosted its position in shares of Biogen by 2.4% during the 2nd quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company’s stock valued at $291,385,000 after acquiring an additional 55,119 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Biogen during the second quarter worth about $284,358,000. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Mizuho raised their target price on shares of Biogen from $207.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. Barclays began coverage on shares of Biogen in a report on Thursday, February 19th. They set an “equal weight” rating and a $185.00 price objective for the company. Sanford C. Bernstein reissued a “market perform” rating on shares of Biogen in a research note on Monday, February 9th. Guggenheim lifted their price target on Biogen from $185.00 to $246.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Wedbush upped their price objective on Biogen from $178.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Twelve analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $205.04.

Insider Activity

In other news, insider Priya Singhal sold 2,660 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $199.83, for a total value of $531,547.80. Following the transaction, the insider owned 8,043 shares in the company, valued at approximately $1,607,232.69. This trade represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Biogen Stock Up 2.0%

Shares of NASDAQ:BIIB opened at $191.82 on Friday. The stock has a market capitalization of $28.15 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 1.52 and a beta of 0.16. The stock’s 50-day moving average price is $181.98 and its 200-day moving average price is $163.51. The company has a current ratio of 2.68, a quick ratio of 2.03 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $202.41.

Biogen (NASDAQ:BIIB) last issued its earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.38. Biogen had a return on equity of 12.64% and a net margin of 13.07%.The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the business posted $3.44 EPS. Biogen’s quarterly revenue was down 7.2% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. On average, equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen Company Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.