Nomura Asset Management Co. Ltd. Has $7.51 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Nomura Asset Management Co. Ltd. cut its position in Biogen Inc. (NASDAQ:BIIB) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,092 shares of the biotechnology company’s stock after selling 211 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Biogen were worth $7,507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Biogen during the fourth quarter valued at approximately $355,569,000. Blair William & Co. IL raised its holdings in Biogen by 7.4% during the fourth quarter. Blair William & Co. IL now owns 13,049 shares of the biotechnology company’s stock worth $1,996,000 after buying an additional 894 shares during the last quarter. NEOS Investment Management LLC lifted its stake in shares of Biogen by 18.4% in the fourth quarter. NEOS Investment Management LLC now owns 17,624 shares of the biotechnology company’s stock valued at $2,695,000 after buying an additional 2,740 shares in the last quarter. Sava Infond d.o.o. acquired a new position in shares of Biogen during the fourth quarter valued at about $252,000. Finally, Elo Mutual Pension Insurance Co increased its position in shares of Biogen by 25.0% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 16,100 shares of the biotechnology company’s stock worth $2,462,000 after acquiring an additional 3,216 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

BIIB has been the topic of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $135.00 target price (down previously from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and dropped their price target for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Bank of America reaffirmed a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Finally, Citigroup dropped their target price on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Biogen has an average rating of “Hold” and a consensus target price of $213.33.

Biogen Trading Down 1.1 %

NASDAQ:BIIB opened at $136.84 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm has a 50-day simple moving average of $141.81 and a 200-day simple moving average of $159.27. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The firm has a market cap of $20.03 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Transactions at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

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.