Biogen Inc. $BIIB Position Cut by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. trimmed its stake in Biogen Inc. (NASDAQ:BIIBFree Report) by 19.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,905 shares of the biotechnology company’s stock after selling 5,665 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Biogen were worth $4,207,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its stake in Biogen by 3.9% in the third quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company’s stock valued at $251,000 after buying an additional 68 shares during the last quarter. CVA Family Office LLC lifted its stake in Biogen by 18.1% in the third quarter. CVA Family Office LLC now owns 464 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 71 shares during the last quarter. Davis Investment Partners LLC lifted its stake in Biogen by 1.7% in the fourth quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company’s stock valued at $778,000 after buying an additional 71 shares during the last quarter. Optas LLC lifted its stake in Biogen by 4.5% in the fourth quarter. Optas LLC now owns 1,706 shares of the biotechnology company’s stock valued at $300,000 after buying an additional 73 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in Biogen by 22.5% in the third quarter. TD Private Client Wealth LLC now owns 414 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 76 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

More Biogen News

Here are the key news stories impacting Biogen this week:

Analysts Set New Price Targets

BIIB has been the topic of a number of recent analyst reports. Mizuho lifted their price objective on shares of Biogen from $207.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group restated a “buy” rating on shares of Biogen in a research note on Monday, February 9th. Piper Sandler upgraded shares of Biogen from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $177.00 to $214.00 in a research note on Tuesday, April 14th. Rothschild & Co Redburn lifted their price objective on shares of Biogen from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Royal Bank Of Canada cut their price objective on shares of Biogen from $233.00 to $213.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Fourteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $211.31.

View Our Latest Research Report on BIIB

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 2,660 shares of Biogen stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the transaction, the insider directly owned 8,043 shares of the company’s stock, valued at $1,607,232.69. The trade was a 24.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $187.88 on Friday. Biogen Inc. has a fifty-two week low of $115.25 and a fifty-two week high of $202.41. The firm’s 50-day simple moving average is $185.37 and its 200 day simple moving average is $174.82. The company has a quick ratio of 2.03, a current ratio of 2.68 and a debt-to-equity ratio of 0.34. The stock has a market cap of $27.57 billion, a P/E ratio of 21.33, a P/E/G ratio of 2.54 and a beta of 0.16.

Biogen (NASDAQ:BIIBGet Free Report) last released its earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.38. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.21 billion. Biogen had a return on equity of 12.64% and a net margin of 13.07%.Biogen’s revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.44 earnings per share. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Equities analysts expect that Biogen Inc. will post 15.75 EPS for the current year.

Biogen Profile

(Free Report)

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.

See Also

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:BIIBFree Report).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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