China Universal Asset Management Co. Ltd. Sells 2,509 Shares of Biogen Inc. (NASDAQ:BIIB)

China Universal Asset Management Co. Ltd. lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,354 shares of the biotechnology company’s stock after selling 2,509 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Biogen were worth $5,100,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. lifted its stake in Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after purchasing an additional 2,648,024 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Biogen by 19,722.9% in the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after purchasing an additional 357,181 shares during the last quarter. Mizuho Securities USA LLC lifted its position in shares of Biogen by 2,715.9% in the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after buying an additional 304,778 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Biogen during the 3rd quarter valued at approximately $55,826,000. Finally, State Street Corp increased its stake in Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after acquiring an additional 248,942 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Price Performance

NASDAQ BIIB opened at $143.93 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $20.97 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.66 and a beta of -0.07. Biogen Inc. has a 12-month low of $139.71 and a 12-month high of $251.99. The firm’s fifty day simple moving average is $150.79 and its two-hundred day simple moving average is $179.03.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company posted $4.36 earnings per share. Analysts forecast that Biogen Inc. will post 16.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on BIIB. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and cut their target price for the company from $250.00 to $180.00 in a report on Monday, December 9th. Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $285.00 to $204.00 in a report on Thursday, October 31st. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research note on Monday, December 16th. Finally, Wolfe Research initiated coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $228.80.

Biogen Company Profile

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.