R Squared Ltd Purchases Shares of 790 Biogen Inc. (NASDAQ:BIIB)

R Squared Ltd acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 790 shares of the biotechnology company’s stock, valued at approximately $121,000.

A number of other large investors also recently modified their holdings of BIIB. Ashton Thomas Securities LLC bought a new position in shares of Biogen during the third quarter valued at about $33,000. Venturi Wealth Management LLC grew its position in Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 90 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Biogen by 228.7% during the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 279 shares during the period. Finally, FSA Wealth Management LLC bought a new position in shares of Biogen in the third quarter worth approximately $74,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

Shares of BIIB opened at $146.23 on Friday. The firm has a fifty day simple moving average of $151.32 and a two-hundred day simple moving average of $179.80. The firm has a market cap of $21.31 billion, a PE ratio of 13.21, a P/E/G ratio of 1.64 and a beta of -0.07. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 1-year low of $139.71 and a 1-year high of $251.99.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.36 earnings per share. On average, equities analysts anticipate that Biogen Inc. will post 16.41 EPS for the current year.

Analyst Ratings Changes

BIIB has been the subject of several analyst reports. Oppenheimer dropped their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Bank of America reissued a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. TD Cowen lowered their price target on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Raymond James reiterated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $228.80.

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.