Sumitomo Mitsui DS Asset Management Company Ltd Sells 1,941 Shares of Biogen Inc. (NASDAQ:BIIB)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,761 shares of the biotechnology company’s stock after selling 1,941 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Biogen were worth $2,716,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. Pacer Advisors Inc. raised its position in shares of Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after acquiring an additional 2,648,024 shares during the last quarter. International Assets Investment Management LLC increased its position in Biogen by 19,722.9% during the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after purchasing an additional 357,181 shares during the period. Mizuho Securities USA LLC raised its holdings in Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after purchasing an additional 304,778 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Biogen in the 3rd quarter worth approximately $55,826,000. Finally, State Street Corp lifted its position in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BIIB has been the subject of a number of analyst reports. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Bank of America reissued a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Robert W. Baird upped their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Mizuho lowered their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Finally, HC Wainwright restated a “buy” rating and set a $300.00 price target on shares of Biogen in a report on Thursday, October 31st. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $228.80.

Biogen Price Performance

Biogen stock opened at $141.35 on Monday. Biogen Inc. has a 52 week low of $139.71 and a 52 week high of $244.95. The company’s 50 day moving average price is $149.14 and its two-hundred day moving average price is $175.79. The stock has a market cap of $20.60 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.65 and a beta of -0.08. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

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.