AQR Capital Management LLC Has $81.91 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

AQR Capital Management LLC grew its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 982.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 539,692 shares of the biotechnology company's stock after purchasing an additional 489,811 shares during the period. AQR Capital Management LLC owned approximately 0.37% of Biogen worth $81,914,000 as of its most recent filing with the Securities and Exchange Commission.

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

Biogen Trading Up 2.2 %

Biogen stock traded up $2.60 during mid-day trading on Friday, hitting $123.53. 1,460,036 shares of the company's stock were exchanged, compared to its average volume of 1,356,243. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $18.08 billion, a P/E ratio of 11.04, a PEG ratio of 1.51 and a beta of 0.13. The company's 50 day simple moving average is $130.58 and its 200-day simple moving average is $146.75.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Biogen's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.67 earnings per share. On average, equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Transactions at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on BIIB. Royal Bank of Canada dropped their price objective on shares of Biogen from $217.00 to $205.00 and set an "outperform" rating for the company in a report on Friday. Piper Sandler cut their price objective on Biogen from $135.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Sanford C. Bernstein assumed coverage on Biogen in a report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 target price on the stock. Bank Of America (Bofa) lowered their target price on Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company reduced their price target on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Twenty investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $195.85.

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.