Integrated Quantitative Investments LLC Purchases Shares of 2,660 Biogen Inc. (NASDAQ:BIIB)

Integrated Quantitative Investments LLC bought a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,660 shares of the biotechnology company's stock, valued at approximately $407,000.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake in shares of Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Biogen during the 4th quarter worth approximately $25,000. OFI Invest Asset Management acquired a new position in Biogen in the 4th quarter valued at approximately $32,000. SRS Capital Advisors Inc. acquired a new position in shares of Biogen during the fourth quarter worth $33,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Biogen during the fourth quarter worth $41,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of NASDAQ BIIB traded down $8.84 during midday trading on Thursday, hitting $111.65. The company's stock had a trading volume of 900,571 shares, compared to its average volume of 1,636,724. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 1.51 and a beta of 0.06. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $137.86 and a 200 day moving average price of $155.09. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00.

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Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BIIB has been the topic of several recent research reports. BMO Capital Markets cut their target price on Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a report on Thursday, February 13th. Argus cut Biogen from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Citigroup lowered their price target on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Stifel Nicolaus lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 price objective on the stock. in a research note on Monday, December 16th. Finally, StockNews.com downgraded shares of Biogen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 28th. Eighteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $213.15.

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.