Kintegral Advisory LLC Lowers Position in Biogen Inc. (NASDAQ:BIIB)

Kintegral Advisory LLC decreased its stake in Biogen Inc. (NASDAQ:BIIB) by 32.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,038 shares of the biotechnology company’s stock after selling 6,397 shares during the quarter. Kintegral Advisory LLC’s holdings in Biogen were worth $1,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Amundi grew its stake in shares of Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after acquiring an additional 319,478 shares during the period. Integrated Quantitative Investments LLC purchased a new position in Biogen in the 4th quarter worth approximately $407,000. Daiwa Securities Group Inc. boosted its stake in Biogen by 17.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 37,221 shares of the biotechnology company’s stock worth $5,692,000 after purchasing an additional 5,627 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Biogen by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock valued at $57,057,000 after buying an additional 25,464 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in shares of Biogen by 59.9% during the fourth quarter. State of Michigan Retirement System now owns 63,503 shares of the biotechnology company’s stock valued at $9,711,000 after buying an additional 23,800 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BIIB shares. Morgan Stanley dropped their target price on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research report on Thursday, June 12th. HSBC lowered Biogen from a “buy” rating to a “hold” rating and set a $118.00 price target for the company. in a research note on Monday, April 28th. Royal Bank Of Canada set a $213.00 price objective on Biogen and gave the stock an “outperform” rating in a research note on Wednesday, June 25th. Finally, Hsbc Global Res cut Biogen from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Twenty research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $188.48.

Biogen Price Performance

Biogen stock opened at $132.63 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01. The stock has a market cap of $19.43 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.06 and a beta of 0.14. The firm has a 50-day moving average of $126.65 and a two-hundred day moving average of $134.69. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Biogen had a net margin of 15.07% and a return on equity of 14.03%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.67 EPS. On average, research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen 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.