Integrated Quantitative Investments LLC Makes New $407,000 Investment in Biogen Inc. (NASDAQ:BIIB)

Integrated Quantitative Investments LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,660 shares of the biotechnology company’s stock, valued at approximately $407,000.

Other hedge funds have also modified their holdings of the company. Inspire Trust Co. N.A. increased its position in Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after buying an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares in the last quarter. Centre Asset Management LLC raised its stake in Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after purchasing an additional 3,698 shares during the last quarter. Amundi boosted its stake in shares of Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Biogen by 48.0% during the fourth quarter. Nordea Investment Management AB now owns 117,963 shares of the biotechnology company’s stock worth $17,901,000 after buying an additional 38,283 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of research analyst reports. Morgan Stanley dropped their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and decreased their price target for the company from $250.00 to $180.00 in a report on Monday, December 9th. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Sanford C. Bernstein began coverage on Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price on the stock. Finally, BMO Capital Markets dropped their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $213.33.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by corporate insiders.

Biogen Trading Down 5.9 %

Biogen stock opened at $122.98 on Friday. Biogen Inc. has a 12-month low of $122.77 and a 12-month high of $238.00. The stock has a market capitalization of $18.00 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The firm has a 50 day simple moving average of $140.68 and a 200-day simple moving average of $157.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.