V Square Quantitative Management LLC Buys 584 Shares of Biogen Inc. (NASDAQ:BIIB)

V Square Quantitative Management LLC lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 21.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,245 shares of the biotechnology company’s stock after buying an additional 584 shares during the quarter. V Square Quantitative Management LLC’s holdings in Biogen were worth $700,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new position in shares of Biogen during the 4th quarter valued at $26,000. Gladius Capital Management LP bought a new position in shares of Biogen during the 3rd quarter valued at $28,000. Hexagon Capital Partners LLC grew its holdings in shares of Biogen by 76.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 51 shares during the last quarter. KB Financial Partners LLC grew its holdings in shares of Biogen by 105.1% during 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 last quarter. Finally, Rise Advisors LLC bought a new position in shares of Biogen during the 1st quarter valued at $27,000. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB stock traded down $2.48 during trading hours on Wednesday, reaching $225.21. The company had a trading volume of 1,225,657 shares, compared to its average volume of 1,184,064. The business has a fifty day moving average price of $212.94 and a 200-day moving average price of $229.92. Biogen Inc. has a one year low of $189.44 and a one year high of $319.76. The firm has a market cap of $32.79 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 2.35 and a beta of -0.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping 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 firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business posted $3.40 earnings per share. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. Sell-side analysts predict that Biogen Inc. will post 15.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on BIIB shares. Mizuho dropped their price target on shares of Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Bank of America dropped their target price on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. StockNews.com cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Wedbush raised their target price on shares of Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Piper Sandler lowered their price target on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $288.46.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

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.