R Squared Ltd Takes Position in Biogen Inc. (NASDAQ:BIIB)

R Squared Ltd bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 790 shares of the biotechnology company’s stock, valued at approximately $121,000.

A number of other large investors have also bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new stake in shares of Biogen during the third quarter worth about $33,000. Venturi Wealth Management LLC lifted its holdings in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 90 shares during the last quarter. Versant Capital Management Inc raised its position in Biogen by 228.7% in the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 279 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new position in Biogen during the 3rd quarter valued at $74,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Biogen stock opened at $146.23 on Friday. The firm’s 50 day simple moving average is $151.32 and its 200 day simple moving average is $179.80. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 1-year low of $139.71 and a 1-year high of $251.99. The firm has a market capitalization of $21.31 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.64 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $4.36 earnings per share. As a group, analysts expect that Biogen Inc. will post 16.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BIIB has been the subject of several analyst reports. TD Cowen lowered their target price on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada dropped their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Citigroup decreased their price target on Biogen from $190.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays reduced their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Mizuho lowered their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Biogen has a consensus rating of “Hold” and an average target price of $228.80.

Biogen Company 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.