Mufg Securities Americas Inc. Invests $329,000 in Biogen Inc. (NASDAQ:BIIB)

Mufg Securities Americas Inc. bought a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,151 shares of the biotechnology company's stock, valued at approximately $329,000.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its position in Biogen by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock valued at $2,561,238,000 after buying an additional 70,368 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Biogen by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock worth $563,709,000 after purchasing an additional 82,456 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after purchasing an additional 2,648,024 shares in the last quarter. Norges Bank acquired a new stake in shares of Biogen during the fourth quarter worth about $355,569,000. Finally, Invesco Ltd. lifted its position in shares of Biogen by 30.6% during the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after purchasing an additional 499,074 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Biogen Stock Down 0.6%

Shares of Biogen stock traded down $0.82 on Thursday, hitting $126.01. 276,620 shares of the company's stock traded hands, compared to its average volume of 1,389,504. The stock has a market cap of $18.46 billion, a P/E ratio of 11.26, a PEG ratio of 1.51 and a beta of 0.12. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The firm's 50-day moving average is $125.30 and its 200 day moving average is $141.60. 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 issued its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business earned $3.67 earnings per share. Biogen's quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BIIB. Sanford C. Bernstein began coverage on shares of Biogen in a research note on Tuesday, February 11th. They set a "market perform" rating and a $160.00 target price on the stock. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a report on Friday, May 2nd. HSBC downgraded Biogen from a "buy" rating to a "hold" rating and set a $118.00 target price for the company. in a report on Monday, April 28th. HC Wainwright cut their price target on Biogen from $241.00 to $187.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Argus downgraded Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Twenty analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $191.30.

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.