Nissay Asset Management Corp Japan ADV Grows Stock Position in Biogen Inc. $BIIB

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in Biogen Inc. by 7.6%, now owning 47,204 shares valued at approximately $6.46 million.
• Multiple institutional investors have boosted their positions in Biogen, with AQR Capital Management increasing its stake by 153.6% during the same period.
• Biogen's latest earnings report shows an EPS of $5.47, surpassing estimates, with revenues of $2.65 billion, a 7.3% year-on-year increase.

Nissay Asset Management Corp Japan ADV grew its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,204 shares of the biotechnology company's stock after acquiring an additional 3,325 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Biogen were worth $6,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BIIB. AQR Capital Management LLC lifted its position in shares of Biogen by 153.6% in the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company's stock valued at $187,258,000 after acquiring an additional 829,150 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Biogen by 1,663.4% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company's stock valued at $106,813,000 after acquiring an additional 736,301 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Biogen by 63.7% in the fourth quarter. Deutsche Bank AG now owns 1,169,570 shares of the biotechnology company's stock valued at $178,851,000 after acquiring an additional 455,285 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Biogen in the first quarter valued at approximately $54,421,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Biogen by 33.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company's stock valued at $234,551,000 after acquiring an additional 381,122 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider owned 5,772 shares of the company's stock, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rachid Izzar sold 2,223 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the sale, the insider directly owned 6,330 shares of the company's stock, valued at approximately $854,550. This trade represents a 25.99% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Biogen Price Performance

BIIB stock opened at $140.67 on Friday. The business has a fifty day moving average of $132.65 and a two-hundred day moving average of $130.63. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The stock has a market cap of $20.63 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.11 and a beta of 0.11. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $204.18.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.93 by $1.54. The company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on BIIB. Piper Sandler raised their target price on Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research report on Thursday. Citigroup lifted their price objective on Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Biogen from a "buy" rating to a "strong-buy" rating in a research report on Friday. Finally, Wedbush reiterated a "neutral" rating and set a $121.00 price objective on shares of Biogen in a research report on Thursday, June 12th. Eleven analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $185.74.

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.

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