Virtu Financial LLC Invests $4.11 Million in Biogen Inc. (NASDAQ:BIIB)

Virtu Financial LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 21,207 shares of the biotechnology company's stock, valued at approximately $4,111,000.

Several other hedge funds have also recently added to or reduced their stakes in BIIB. TD Private Client Wealth LLC boosted its holdings in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company's stock worth $75,000 after purchasing an additional 77 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Biogen by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company's stock worth $698,062,000 after acquiring an additional 47,055 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Biogen by 144.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 7,178 shares of the biotechnology company's stock worth $1,391,000 after acquiring an additional 4,238 shares during the period. MML Investors Services LLC boosted its position in shares of Biogen by 3.8% during the 3rd quarter. MML Investors Services LLC now owns 10,280 shares of the biotechnology company's stock valued at $1,993,000 after acquiring an additional 380 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Biogen in the 3rd quarter valued at about $1,348,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BIIB has been the subject of a number of research analyst reports. Wolfe Research began coverage on Biogen in a report on Friday, November 15th. They set a "peer perform" rating for the company. Robert W. Baird upped their target price on shares of Biogen from $294.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, November 15th. Bank of America reiterated a "neutral" rating and set a $178.00 price target on shares of Biogen in a research report on Tuesday. Oppenheimer decreased their price objective on shares of Biogen from $270.00 to $255.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Finally, UBS Group dropped their target price on shares of Biogen from $234.00 to $202.00 and set a "neutral" rating for the company in a report on Thursday, October 3rd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $249.80.

Biogen Stock Up 0.7 %

BIIB opened at $157.46 on Thursday. The business has a 50 day moving average price of $173.14 and a two-hundred day moving average price of $199.48. Biogen Inc. has a 52 week low of $153.62 and a 52 week high of $268.30. The company has a market cap of $22.95 billion, a PE ratio of 14.22, a P/E/G ratio of 1.49 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.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts' consensus estimates 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%. Biogen's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.36 EPS. As a group, research analysts anticipate that Biogen Inc. will post 16.44 EPS for the current year.

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.

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:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.