MQS Management LLC Makes New $433,000 Investment in Biogen Inc. (NASDAQ:BIIB)

MQS Management LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,010 shares of the biotechnology company’s stock, valued at approximately $433,000.

Several other hedge funds also recently modified their holdings of BIIB. KCM Investment Advisors LLC raised its stake in shares of Biogen by 1.7% during the first quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock valued at $637,000 after acquiring an additional 48 shares during the last quarter. Quent Capital LLC lifted its holdings in Biogen by 17.0% during the 4th quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock worth $87,000 after buying an additional 49 shares during the period. Salem Investment Counselors Inc. lifted its holdings in Biogen by 8.2% during the 4th quarter. Salem Investment Counselors Inc. now owns 658 shares of the biotechnology company’s stock worth $170,000 after buying an additional 50 shares during the period. Massachusetts Wealth Management grew its position in shares of Biogen by 1.6% in the 4th quarter. Massachusetts Wealth Management now owns 3,250 shares of the biotechnology company’s stock valued at $841,000 after buying an additional 50 shares during the last quarter. Finally, TFB Advisors LLC increased its stake in shares of Biogen by 2.1% in the first quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock valued at $530,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of NASDAQ BIIB traded up $1.41 during midday trading on Thursday, hitting $227.44. The company’s stock had a trading volume of 1,138,766 shares, compared to its average volume of 1,124,115. The firm has a market capitalization of $33.12 billion, a price-to-earnings ratio of 28.39, a P/E/G ratio of 2.26 and a beta of -0.04. The stock has a fifty day moving average price of $226.68 and a 200 day moving average price of $224.83. Biogen Inc. has a one year low of $189.44 and a one year high of $278.95. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.22. The firm had revenue of $2.29 billion for 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 company’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.40 earnings per share. On average, research analysts forecast that Biogen Inc. will post 15.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $300.00 price objective on shares of Biogen in a research report on Thursday, May 23rd. Wedbush increased their price target on Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Truist Financial reissued a “buy” rating and issued a $340.00 price objective on shares of Biogen in a research note on Thursday, May 16th. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price on shares of Biogen in a research note on Monday, April 29th. Finally, HSBC raised their price objective on shares of Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average 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.