Biogen Inc. $BIIB Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its stake in Biogen Inc. (NASDAQ:BIIB) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,010 shares of the biotechnology company’s stock after acquiring an additional 5,987 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Biogen were worth $9,387,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC purchased a new stake in Biogen in the second quarter valued at approximately $25,000. Rothschild Investment LLC boosted its holdings in Biogen by 64.7% in the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 88 shares during the last quarter. Concord Wealth Partners grew its holdings in Biogen by 100.0% during the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 114 shares in the last quarter. NewSquare Capital LLC lifted its holdings in Biogen by 134.6% during the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after buying an additional 140 shares during the last quarter. Finally, WFA of San Diego LLC acquired a new position in shares of Biogen in the 2nd quarter valued at about $32,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

BIIB stock opened at $179.89 on Friday. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $190.20. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.35. The company has a market cap of $26.39 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 1.47 and a beta of 0.13. The business’s fifty day moving average is $176.47 and its 200-day moving average is $154.81.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. Biogen’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company posted $4.08 EPS. Equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BIIB. Rothschild & Co Redburn boosted their target price on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. The Goldman Sachs Group reiterated a “buy” rating and set a $225.00 price objective on shares of Biogen in a research report on Thursday, January 8th. Truist Financial lifted their price objective on Biogen from $142.00 to $190.00 and gave the company a “hold” rating in a research report on Thursday, January 8th. Sanford C. Bernstein boosted their target price on Biogen from $157.00 to $197.00 and gave the stock a “market perform” rating in a report on Friday, January 9th. Finally, Citigroup raised their price target on shares of Biogen from $180.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $192.81.

Biogen Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.