Biogen Inc. (NASDAQ:BIIB) Shares Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its stake in Biogen Inc. (NASDAQ:BIIB) by 2,715.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 316,000 shares of the biotechnology company’s stock after acquiring an additional 304,778 shares during the period. Mizuho Securities USA LLC owned approximately 0.22% of Biogen worth $61,253,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Biogen by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after purchasing an additional 5,270 shares during the last quarter. Arlington Partners LLC grew its position in Biogen by 34.3% during the third quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after acquiring an additional 4,902 shares during the period. Cetera Investment Advisers increased its position in Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after purchasing an additional 10,425 shares in the last quarter. M&G Plc purchased a new stake in Biogen during the first quarter worth approximately $1,856,000. Finally, National Pension Service raised its position in Biogen by 10.1% in the third quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock valued at $69,699,000 after purchasing an additional 32,914 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Performance

Shares of BIIB stock opened at $159.99 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average of $185.99 and a two-hundred day moving average of $207.38. The company has a market cap of $23.31 billion, a P/E ratio of 14.45, a PEG ratio of 1.57 and a beta of -0.06. Biogen Inc. has a 52 week low of $159.60 and a 52 week high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.36 earnings per share. As a group, analysts anticipate that Biogen Inc. will post 16.4 EPS for the current year.

Analyst Upgrades and Downgrades

BIIB has been the topic of several analyst reports. Royal Bank of Canada dropped their target price on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. HC Wainwright reissued a “buy” rating and set a $300.00 target price on shares of Biogen in a research report on Thursday, October 31st. TD Cowen lowered their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Scotiabank cut their price objective on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Finally, Mizuho lowered their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Twelve investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $258.96.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

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.