Mitsubishi UFJ Asset Management Co. Ltd. Takes $77.53 Million Position in Biogen Inc. $BIIB

Key Points

• Mitsubishi UFJ Asset Management acquired 358,823 Biogen shares worth approximately $77.5 million, representing about 0.24% of the company. Institutional investors collectively own 87.93% of Biogen.
• Analysts maintain a generally positive view, with Biogen receiving a consensus “Moderate Buy” rating and an average price target of $227.07.
• Biogen reported quarterly earnings of $3.60 per share, surpassing the $2.94 estimate, while revenue rose 3.4% year over year to $2.74 billion. Shares opened at $212.55, near the company’s 52-week high.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 358,823 shares of the biotechnology company's stock, valued at approximately $77,527,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.24% of Biogen as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BIIB. Bell Investment Advisors Inc acquired a new position in shares of Biogen during the second quarter worth $27,000. Reflection Asset Management acquired a new stake in shares of Biogen in the 4th quarter worth $25,000. WPG Advisers LLC grew its stake in Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company's stock worth $26,000 after buying an additional 117 shares during the last quarter. First Horizon Corp purchased a new position in Biogen during the 4th quarter worth $30,000. Finally, Root Financial Partners LLC increased its position in Biogen by 198.4% during the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company's stock valued at $33,000 after buying an additional 123 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BIIB shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Biogen in a report on Monday, June 22nd. Freedom Capital upgraded shares of Biogen from a "hold" rating to a "strong-buy" rating in a report on Friday, May 1st. Wedbush increased their price objective on shares of Biogen from $201.00 to $215.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. Oppenheimer reissued an "outperform" rating and set a $300.00 target price on shares of Biogen in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of Biogen from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $227.07.

Biogen Trading Up 1.6%

Shares of NASDAQ:BIIB opened at $212.55 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. Biogen Inc. has a 52-week low of $131.52 and a 52-week high of $219.72. The stock has a market cap of $31.40 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 6.48 and a beta of 0.17. The business has a 50-day moving average price of $204.36 and a 200-day moving average price of $193.76.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating analysts' consensus estimates of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the firm earned $5.47 earnings per share. Biogen's revenue for the quarter was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities analysts predict that Biogen Inc. will post 12.39 EPS for the current year.

About Biogen

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.

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