Intech Investment Management LLC Has $5.16 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Intech Investment Management LLC reduced its position in Biogen Inc. (NASDAQ:BIIB) by 33.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,922 shares of the biotechnology company’s stock after selling 10,007 shares during the quarter. Intech Investment Management LLC’s holdings in Biogen were worth $5,155,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BIIB. Gladius Capital Management LP acquired a new position in shares of Biogen during the third quarter worth $28,000. KB Financial Partners LLC lifted its stake in shares of Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares during the period. Hexagon Capital Partners LLC increased its holdings in Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 51 shares in the last quarter. CVA Family Office LLC acquired a new position in Biogen in the fourth quarter valued at approximately $36,000. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of Biogen by 215.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after buying an additional 125 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Performance

NASDAQ:BIIB traded down $0.25 on Monday, reaching $217.81. 770,900 shares of the company’s stock were exchanged, compared to its average volume of 1,178,831. The stock has a fifty day simple moving average of $212.88 and a 200-day simple moving average of $229.49. The firm has a market cap of $31.71 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 2.20 and a beta of -0.01. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. 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 earnings results 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. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the firm posted $3.40 EPS. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that Biogen Inc. will post 15.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on BIIB shares. Oppenheimer restated an “outperform” rating and issued a $270.00 target price on shares of Biogen in a research note on Monday, April 29th. BMO Capital Markets lowered their target price on Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Wedbush raised their price objective on shares of Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Finally, Barclays lowered their price objective on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $288.46.

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.