Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 15.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,084 shares of the biotechnology company's stock after acquiring an additional 7,531 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Biogen were worth $7,622,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after buying an additional 141 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in Biogen in the fourth quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Biogen in the first quarter worth $26,000. Colonial Trust Co SC grew its stake in shares of Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 186 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Biogen in the 4th quarter worth about $32,000. Institutional investors own 87.93% of the company's stock.

Biogen Stock Performance

Shares of BIIB stock traded up $3.12 during midday trading on Wednesday, hitting $133.19. The company had a trading volume of 1,474,218 shares, compared to its average volume of 1,434,372. The stock has a market cap of $19.52 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.03 and a beta of 0.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01. The company's 50 day simple moving average is $126.09 and its 200 day simple moving average is $134.82. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the business earned $3.67 EPS. Biogen's revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

BIIB has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $213.00 price target on Biogen and gave the company an "outperform" rating in a report on Wednesday, June 25th. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a report on Thursday, June 12th. Morgan Stanley dropped their target price on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group lowered their price target on Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Truist Financial cut their price objective on Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $188.48.

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.