Quantbot Technologies LP Has $886,000 Position in Biogen Inc. (NASDAQ:BIIB)

Quantbot Technologies LP lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 519.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,108 shares of the biotechnology company’s stock after buying an additional 3,445 shares during the period. Quantbot Technologies LP’s holdings in Biogen were worth $886,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BIIB. Leo Wealth LLC acquired a new stake in shares of Biogen during the 4th quarter valued at $2,265,000. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Biogen by 15.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock valued at $9,313,000 after buying an additional 4,693 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Biogen by 6.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock worth $1,251,000 after buying an additional 285 shares during the last quarter. Everence Capital Management Inc. raised its position in Biogen by 26.6% during the fourth quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock valued at $1,294,000 after acquiring an additional 1,050 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its stake in Biogen by 3.4% in the fourth quarter. IFM Investors Pty Ltd now owns 34,188 shares of the biotechnology company’s stock valued at $8,847,000 after acquiring an additional 1,113 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Biogen stock opened at $230.06 on Monday. The business has a 50 day simple moving average of $226.50 and a 200 day simple moving average of $226.57. Biogen Inc. has a one year low of $189.44 and a one year high of $281.12. The company has a market capitalization of $33.50 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 2.32 and a beta of -0.04. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The business’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the business earned $3.40 earnings per share. On average, sell-side analysts forecast that Biogen Inc. will post 15.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, May 23rd. Piper Sandler cut their price objective on Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research note on Friday. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Wednesday, July 3rd. Wedbush lifted their price target on shares of Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, Truist Financial reiterated a “buy” rating and issued a $340.00 target price on shares of Biogen in a research note on Thursday, May 16th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $286.00.

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.