China Universal Asset Management Co. Ltd. Raises Position in Biogen Inc. (NASDAQ:BIIB)

China Universal Asset Management Co. Ltd. increased its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 333.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,027 shares of the biotechnology company's stock after purchasing an additional 14,634 shares during the period. Biogen accounts for 1.0% of China Universal Asset Management Co. Ltd.'s portfolio, making the stock its 27th biggest position. China Universal Asset Management Co. Ltd.'s holdings in Biogen were worth $4,924,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. Vanguard Group Inc. grew its stake in shares of Biogen by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company's stock worth $2,468,356,000 after acquiring an additional 183,285 shares during the last quarter. State Street Corp lifted its holdings in shares of Biogen by 2.8% during the first quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company's stock valued at $1,518,196,000 after purchasing an additional 197,400 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Biogen by 0.5% during the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company's stock valued at $1,381,251,000 after purchasing an additional 27,951 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Biogen by 49.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company's stock valued at $580,627,000 after purchasing an additional 691,843 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Biogen by 2.8% during the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company's stock valued at $422,276,000 after purchasing an additional 45,437 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Eric K. Rowinsky acquired 455 shares of the firm's stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now owns 20,629 shares of the company's stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Priya Singhal sold 262 shares of the company's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares of the company's stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock valued at $202,030 in the last quarter. 0.60% of the stock is currently owned by company insiders.

Biogen Stock Down 0.5 %

Shares of NASDAQ:BIIB traded down $1.08 on Thursday, reaching $205.30. The company had a trading volume of 776,100 shares, compared to its average volume of 1,169,792. Biogen Inc. has a 52-week low of $205.22 and a 52-week high of $319.76. The firm's 50 day simple moving average is $226.03 and its 200-day simple moving average is $240.51. The firm has a market capitalization of $29.84 billion, a PE ratio of 26.02, a PEG ratio of 1.73 and a beta of -0.02. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The business had revenue of $2.39 billion for the quarter, compared to analysts' expectations of $2.47 billion. During the same quarter last year, the firm earned $4.05 earnings per share. As a group, analysts expect that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $311.00 price objective on shares of Biogen in a research note on Tuesday, February 20th. Truist Financial reaffirmed a "buy" rating and issued a $340.00 price objective on shares of Biogen in a research note on Monday, March 25th. Canaccord Genuity Group decreased their price objective on Biogen from $310.00 to $305.00 and set a "buy" rating on the stock in a research note on Tuesday, February 20th. William Blair reaffirmed an "outperform" rating on shares of Biogen in a research note on Monday. Finally, Stifel Nicolaus decreased their price objective on Biogen from $315.00 to $287.00 and set a "buy" rating on the stock in a research note on Thursday, December 14th. Nine research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to MarketBeat, Biogen presently has an average rating of "Moderate Buy" and a consensus price target of $302.52.

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.