Quantinno Capital Management LP Purchases 3,215 Shares of Biogen Inc. (NASDAQ:BIIB)

Quantinno Capital Management LP increased its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 104.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,284 shares of the biotechnology company's stock after purchasing an additional 3,215 shares during the period. Quantinno Capital Management LP's holdings in Biogen were worth $961,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amundi increased its holdings in shares of 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 period. Integrated Quantitative Investments LLC acquired a new position in Biogen in the 4th quarter valued at approximately $407,000. Daiwa Securities Group Inc. lifted its position in Biogen by 17.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 37,221 shares of the biotechnology company's stock worth $5,692,000 after buying an additional 5,627 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in Biogen by 111.0% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,148 shares of the biotechnology company's stock worth $2,316,000 after buying an additional 7,970 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Biogen by 17.2% during the 4th quarter. New York State Common Retirement Fund now owns 111,016 shares of the biotechnology company's stock valued at $16,977,000 after buying an additional 16,271 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HSBC lowered Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective for the company. in a report on Monday, April 28th. Oppenheimer set a $205.00 target price on Biogen in a research report on Friday, May 2nd. Morgan Stanley cut their price target on Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Piper Sandler dropped their price objective on Biogen from $135.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Scotiabank cut their price objective on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research report on Thursday, February 13th. Twenty research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $191.30.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares of the company's stock, valued at $1,697,926.36. This represents a 43.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Biogen Stock Performance

Shares of BIIB traded up $3.32 during trading hours on Thursday, reaching $130.85. 458,096 shares of the company traded hands, compared to its average volume of 1,395,196. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock's fifty day moving average is $123.77 and its 200 day moving average is $139.96. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. The stock has a market cap of $19.17 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly 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 16.87% and a return on equity of 14.98%. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the company earned $3.67 EPS. The company's revenue was up 6.2% on a year-over-year basis. Equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal 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.