Mirae Asset Global Investments Co. Ltd. Has $9.39 Million Position in Biogen Inc. $BIIB

Mirae Asset Global Investments Co. Ltd. grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 9.8% during the third quarter, Holdings Channel.com reports. The firm 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 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in Biogen in the second quarter valued at approximately $284,358,000. Orion Porfolio Solutions LLC increased its holdings in Biogen by 6,828.4% during the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after buying an additional 509,809 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Biogen by 190.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock valued at $78,415,000 after acquiring an additional 409,591 shares during the period. AustralianSuper Pty Ltd increased its stake in shares of Biogen by 85.9% during the 2nd quarter. AustralianSuper Pty Ltd now owns 739,416 shares of the biotechnology company’s stock worth $92,863,000 after purchasing an additional 341,719 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Biogen by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock worth $2,171,533,000 after purchasing an additional 257,812 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Up 2.1%

Shares of BIIB opened at $179.89 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.72. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $190.20. The firm has a market cap of $26.39 billion, a price-to-earnings ratio of 16.40, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the firm posted $4.08 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BIIB shares. Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and raised their price objective for the company from $144.00 to $202.00 in a research report on Thursday, November 6th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Biogen in a research report on Tuesday, January 13th. Morgan Stanley increased their price objective on shares of Biogen from $149.00 to $156.00 and gave the company an “equal weight” rating in a research report on Friday, December 12th. Hsbc Global Res cut shares of Biogen from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 10th. Finally, Truist Financial upped their price target on shares of Biogen from $142.00 to $190.00 and gave the company a “hold” rating in a research note on Thursday, January 8th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $192.81.

Biogen Company 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.