Nomura Asset Management Co. Ltd. boosted its position in Biogen Inc. (NASDAQ:BIIB) by 194.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,476 shares of the biotechnology company’s stock after buying an additional 128,450 shares during the quarter. Biogen makes up approximately 0.8% of Nomura Asset Management Co. Ltd.’s portfolio, making the stock its 28th biggest position. Nomura Asset Management Co. Ltd. owned about 0.09% of Biogen worth $60,895,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIIB. Janus Henderson Group PLC boosted its stake in shares of Biogen by 4,585.3% during the second quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock valued at $392,265,000 after purchasing an additional 1,414,707 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Biogen by 35.1% during the third quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock valued at $723,142,000 after purchasing an additional 600,384 shares during the period. FMR LLC boosted its stake in shares of Biogen by 10.1% during the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock valued at $1,656,390,000 after purchasing an additional 561,436 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Biogen by 24.0% during the third quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock valued at $728,314,000 after purchasing an additional 450,207 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Biogen by 28.8% during the second quarter. TIAA CREF Investment Management LLC now owns 1,906,820 shares of the biotechnology company’s stock valued at $517,434,000 after purchasing an additional 426,821 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

Shares of Biogen Inc. (NASDAQ BIIB) opened at $317.40 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $67,120.00, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.99 and a beta of 0.73. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $348.84.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.61. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.19 earnings per share. analysts expect that Biogen Inc. will post 22.03 EPS for the current fiscal year.

BIIB has been the subject of a number of analyst reports. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price objective for the company in a research note on Thursday, August 10th. Goldman Sachs Group raised Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective for the company in a research note on Wednesday, August 16th. Robert W. Baird reissued a “hold” rating and set a $290.00 price objective on shares of Biogen in a research note on Friday, August 25th. ValuEngine lowered Biogen from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Mizuho reissued a “neutral” rating and set a $319.00 price objective (up previously from $274.00) on shares of Biogen in a research note on Wednesday, September 13th. Twelve research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Biogen currently has an average rating of “Buy” and an average target price of $344.32.

In other news, Director Alexander J. Denner acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was acquired at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the acquisition, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

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Biogen Company Profile

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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