Kirr Marbach & Co. LLC IN Purchases 3,646 Shares of Biogen Inc. (NASDAQ:BIIB)

Kirr Marbach & Co. LLC IN boosted its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 12.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,444 shares of the biotechnology company's stock after buying an additional 3,646 shares during the period. Kirr Marbach & Co. LLC IN's holdings in Biogen were worth $4,576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Biogen by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock valued at $2,561,238,000 after buying an additional 70,368 shares in the last quarter. Geode Capital Management LLC increased its position in Biogen by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock valued at $563,709,000 after buying an additional 82,456 shares in the last quarter. Norges Bank bought a new stake in Biogen in the 4th quarter valued at about $355,569,000. Invesco Ltd. increased its position in Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock valued at $325,537,000 after buying an additional 499,074 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Biogen by 1.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company's stock valued at $295,705,000 after purchasing an additional 21,170 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler reiterated a "neutral" rating and set a $115.00 price target on shares of Biogen in a research note on Thursday, June 12th. Hsbc Global Res downgraded Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Wedbush reiterated a "neutral" rating and set a $121.00 price target on shares of Biogen in a research note on Thursday, June 12th. Mizuho cut their price target on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Oppenheimer set a $205.00 price target on Biogen in a research note on Friday, May 2nd. Twenty 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, the company currently has an average rating of "Hold" and an average price target of $188.19.

Biogen Price Performance

Biogen stock opened at $124.76 on Tuesday. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The business's 50 day simple moving average is $124.94 and its 200 day simple moving average is $135.86. The company has a market cap of $18.28 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.00 and a beta of 0.14.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the company posted $3.67 EPS. Biogen's revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

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.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.