Kintegral Advisory LLC Lowers Stake in Biogen Inc. (NASDAQ:BIIB)

Kintegral Advisory LLC reduced its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 32.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,038 shares of the biotechnology company's stock after selling 6,397 shares during the quarter. Kintegral Advisory LLC's holdings in Biogen were worth $1,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. IFM Investors Pty Ltd grew its stake in shares of Biogen by 1.8% in the 1st quarter. IFM Investors Pty Ltd now owns 34,013 shares of the biotechnology company's stock valued at $4,654,000 after purchasing an additional 588 shares during the last quarter. GF Fund Management CO. LTD. grew its stake in shares of Biogen by 3.5% in the 1st quarter. GF Fund Management CO. LTD. now owns 35,435 shares of the biotechnology company's stock valued at $4,849,000 after purchasing an additional 1,193 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of Biogen in the 1st quarter valued at approximately $231,000. Calamos Advisors LLC boosted its stake in shares of Biogen by 1.1% in the first quarter. Calamos Advisors LLC now owns 36,970 shares of the biotechnology company's stock valued at $5,059,000 after buying an additional 412 shares in the last quarter. Finally, North Capital Inc. purchased a new stake in shares of Biogen in the first quarter valued at approximately $60,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Trading Down 2.1%

Biogen stock traded down $2.74 during trading on Monday, hitting $130.13. The company's stock had a trading volume of 1,086,906 shares, compared to its average volume of 1,437,097. The stock has a market capitalization of $19.07 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.06 and a beta of 0.14. The stock's fifty day moving average is $126.93 and its 200 day moving average is $134.39. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.44.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the company posted $3.67 earnings per share. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities research analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Hsbc Global Res downgraded Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. The Goldman Sachs Group decreased their price target on Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price target on Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Argus downgraded Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Piper Sandler reiterated a "neutral" rating and set a $115.00 target price on shares of Biogen in a research report on Thursday, June 12th. Twenty analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $188.48.

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.