AlphaQuest LLC Takes $3.19 Million Position in Biogen Inc. (NASDAQ:BIIB)

AlphaQuest LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 20,831 shares of the biotechnology company’s stock, valued at approximately $3,185,000. Biogen accounts for approximately 0.4% of AlphaQuest LLC’s holdings, making the stock its 10th biggest holding.

Several other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Biogen in the 4th quarter valued at approximately $32,000. Amundi increased its holdings in Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Larson Financial Group LLC increased its holdings in Biogen by 640.9% in the 4th 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 during the last quarter. PNC Financial Services Group Inc. increased its holdings in Biogen by 7.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 25,174 shares of the biotechnology company’s stock valued at $3,850,000 after purchasing an additional 1,753 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Biogen in the 4th quarter valued at approximately $4,138,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of BIIB opened at $150.38 on Friday. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. The stock has a market cap of $22.01 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a fifty day moving average price of $143.98 and a 200 day moving average price of $166.46.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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%. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Analysts Set New Price Targets

BIIB has been the subject of several research reports. BMO Capital Markets dropped their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a report on Thursday, February 13th. Morgan Stanley dropped their price target 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. HC Wainwright dropped their price target on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Truist Financial dropped their price target on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Mizuho dropped their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $213.33.

Biogen 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.