Mizuho Securities USA LLC Boosts Stock Position in Biogen Inc. (NASDAQ:BIIB)

Mizuho Securities USA LLC boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 46.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 13,811 shares of the biotechnology company’s stock after purchasing an additional 4,366 shares during the period. Mizuho Securities USA LLC’s holdings in Biogen were worth $2,112,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in Biogen by 2.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,696 shares of the biotechnology company’s stock worth $1,298,000 after buying an additional 147 shares during the period. Raymond James Trust N.A. increased its position in shares of Biogen by 2.7% during the third quarter. Raymond James Trust N.A. now owns 2,993 shares of the biotechnology company’s stock worth $580,000 after acquiring an additional 80 shares during the period. Cerity Partners LLC raised its stake in shares of Biogen by 35.3% in the third quarter. Cerity Partners LLC now owns 7,785 shares of the biotechnology company’s stock valued at $1,509,000 after acquiring an additional 2,030 shares in the last quarter. Swedbank AB boosted its holdings in Biogen by 85.0% in the third quarter. Swedbank AB now owns 185,008 shares of the biotechnology company’s stock valued at $35,862,000 after purchasing an additional 84,981 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in Biogen by 27.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 31,594 shares of the biotechnology company’s stock worth $6,124,000 after purchasing an additional 6,746 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Up 0.5 %

Shares of Biogen stock opened at $141.60 on Tuesday. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The company has a market cap of $20.73 billion, a P/E ratio of 12.65, a PEG ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm has a fifty day moving average of $141.99 and a two-hundred day moving average of $161.38.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

BIIB has been the topic of a number of analyst reports. Truist Financial reduced their price target on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Bank of America reiterated a “neutral” rating and set a $178.00 price target on shares of Biogen in a report on Tuesday, December 10th. Royal Bank of Canada reduced their price objective on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Morgan Stanley lowered their target price on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $213.33.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

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.