Daiwa Securities Group Inc. Boosts Holdings in Biogen Inc (BIIB)

Share on StockTwits

Daiwa Securities Group Inc. raised its stake in Biogen Inc (NASDAQ:BIIB) by 80.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,825 shares of the biotechnology company’s stock after acquiring an additional 7,970 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Biogen were worth $6,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of BIIB. Morgan Stanley increased its position in Biogen by 61.1% in the 2nd quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock valued at $508,240,000 after acquiring an additional 664,096 shares in the last quarter. Mainstay Capital Management LLC ADV increased its position in Biogen by 21,407.0% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 665,213 shares of the biotechnology company’s stock valued at $2,537,000 after acquiring an additional 662,120 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in Biogen in the 3rd quarter valued at about $218,735,000. Boston Partners acquired a new stake in Biogen in the 2nd quarter valued at about $76,080,000. Finally, Swedbank increased its position in Biogen by 49.9% in the 2nd quarter. Swedbank now owns 578,981 shares of the biotechnology company’s stock valued at $168,043,000 after acquiring an additional 192,852 shares in the last quarter. Hedge funds and other institutional investors own 87.55% of the company’s stock.

In other news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the executive vice president now owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

BIIB has been the subject of several research reports. Oppenheimer set a $400.00 price objective on shares of Biogen and gave the company a “buy” rating in a research report on Friday, October 19th. BidaskClub cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Cowen restated a “buy” rating and issued a $408.00 price objective on shares of Biogen in a research report on Tuesday, July 24th. SunTrust Banks raised their price objective on shares of Biogen from $321.00 to $392.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, Cantor Fitzgerald set a $293.00 price objective on shares of Biogen and gave the company a “hold” rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the stock. Biogen has an average rating of “Buy” and an average target price of $383.01.

Shares of NASDAQ BIIB opened at $317.15 on Tuesday. The stock has a market capitalization of $63.00 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75. Biogen Inc has a 1 year low of $249.17 and a 1 year high of $388.67.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.78 by $0.62. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $6.31 EPS. Analysts expect that Biogen Inc will post 25.58 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Daiwa Securities Group Inc. Boosts Holdings in Biogen Inc (BIIB)” was first posted by Macon Daily and is owned by of Macon Daily. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at https://macondaily.com/2018/11/06/daiwa-securities-group-inc-boosts-holdings-in-biogen-inc-biib.html.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

Recommended Story: Consumer behavior in bull markets

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:BIIB).

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.

Leave a Reply