Nomura Asset Management Co. Ltd. Has $18.04 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

Nomura Asset Management Co. Ltd. cut its holdings in shares of Biogen Inc. (NASDAQ:BIIBFree Report) by 10.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,200 shares of the biotechnology company’s stock after selling 7,882 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Biogen were worth $18,042,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its holdings in Biogen by 16.4% during the 1st quarter. Raymond James Trust N.A. now owns 3,294 shares of the biotechnology company’s stock valued at $693,000 after purchasing an additional 464 shares during the last quarter. Cibc World Market Inc. raised its stake in Biogen by 39.9% in the first quarter. Cibc World Market Inc. now owns 15,244 shares of the biotechnology company’s stock valued at $3,210,000 after purchasing an additional 4,349 shares in the last quarter. Vanguard Group Inc. grew its position in Biogen by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after acquiring an additional 183,285 shares during the last quarter. Baird Financial Group Inc. grew its position in Biogen by 15.3% in the first quarter. Baird Financial Group Inc. now owns 89,722 shares of the biotechnology company’s stock valued at $18,896,000 after acquiring an additional 11,882 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Biogen by 10.7% in the first quarter. Brown Brothers Harriman & Co. now owns 5,938 shares of the biotechnology company’s stock valued at $1,251,000 after buying an additional 573 shares during the period. 85.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 110 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $248.00, for a total transaction of $27,280.00. Following the completion of the sale, the insider now owns 3,464 shares of the company’s stock, valued at $859,072. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by insiders.

Biogen Price Performance

BIIB traded down $1.39 during trading on Friday, hitting $244.82. 532,504 shares of the stock traded hands, compared to its average volume of 977,789. Biogen Inc. has a twelve month low of $220.86 and a twelve month high of $319.76. The company has a market cap of $35.47 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 2.28 and a beta of 0.05. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.68 and a quick ratio of 1.09. The business has a 50 day moving average price of $246.65 and a 200 day moving average price of $255.21.

Biogen (NASDAQ:BIIBGet Free Report) last issued its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported $4.36 earnings per share for the quarter, beating analysts’ consensus estimates of $3.99 by $0.37. Biogen had a net margin of 14.63% and a return on equity of 16.40%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm earned $4.77 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts forecast that Biogen Inc. will post 14.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Raymond James upgraded Biogen from a “market perform” rating to an “outperform” rating and set a $283.00 target price on the stock in a report on Thursday, December 7th. Needham & Company LLC reissued a “buy” rating and set a $305.00 price target on shares of Biogen in a research report on Thursday, October 26th. UBS Group cut shares of Biogen from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $311.00 to $276.00 in a research report on Wednesday. StockNews.com raised shares of Biogen from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $311.00 price objective on shares of Biogen in a research note on Wednesday, December 20th. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and an average price target of $318.17.

Get Our Latest Stock Report on Biogen

Biogen Profile

(Free Report)

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 offers 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.

Recommended Stories

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIBFree Report).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.