Mitsubishi UFJ Trust & Banking Corp Has $11.86 Million Position in Biogen Inc. $BIIB

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 4.3% during the third quarter, HoldingsChannel.com reports. The fund owned 84,660 shares of the biotechnology company’s stock after purchasing an additional 3,465 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Biogen were worth $11,859,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC acquired a new stake in Biogen during the second quarter valued at approximately $25,000. Rothschild Investment LLC lifted its position in shares of Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after buying an additional 88 shares during the period. Concord Wealth Partners boosted its stake in Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 114 shares in the last quarter. True Wealth Design LLC boosted its stake in Biogen by 62.9% in the 3rd quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Finally, NewSquare Capital LLC grew its position in Biogen by 134.6% in the second quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

BIIB stock opened at $174.12 on Wednesday. The company has a 50 day moving average price of $176.08 and a 200 day moving average price of $153.99. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $190.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04. The stock has a market capitalization of $25.54 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.44 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the firm earned $4.08 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BIIB shares. Mizuho lifted their price objective on Biogen from $177.00 to $207.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. BMO Capital Markets lifted their price target on shares of Biogen from $150.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Tudor Pickering set a $157.00 price objective on shares of Biogen in a research note on Monday, November 3rd. HSBC reissued a “reduce” rating and issued a $143.00 target price (down from $144.00) on shares of Biogen in a report on Wednesday, December 10th. Finally, Wall Street Zen cut Biogen from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $192.04.

About Biogen

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.