Dai ichi Life Insurance Company Ltd lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 47.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,459 shares of the biotechnology company’s stock after selling 10,222 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Biogen were worth $2,965,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Gladius Capital Management LP purchased a new position in Biogen in the 3rd quarter valued at about $28,000. Hexagon Capital Partners LLC grew its stake in Biogen by 76.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 51 shares during the period. KB Financial Partners LLC raised its holdings in Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 62 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Biogen during the 4th quarter worth $36,000. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of Biogen by 215.5% during the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 125 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.
Biogen Price Performance
NASDAQ:BIIB traded down $0.06 during mid-day trading on Friday, reaching $218.00. 39,393 shares of the stock were exchanged, compared to its average volume of 1,171,333. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $319.76. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $31.74 billion, a PE ratio of 27.22, a PEG ratio of 2.27 and a beta of -0.01. The business has a fifty day moving average price of $212.91 and a 200 day moving average price of $229.84.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $300.00 price objective on shares of Biogen in a research note on Thursday. Bank of America reduced their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Needham & Company LLC reissued a “buy” rating and issued a $294.00 target price on shares of Biogen in a research note on Wednesday. Mizuho decreased their price target on shares of Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, Robert W. Baird cut their price objective on Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Biogen has an average rating of “Moderate Buy” and an average price target of $288.46.
Get Our Latest Stock Analysis on Biogen
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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