Kintegral Advisory LLC Has $4.78 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Kintegral Advisory LLC lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 62.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,606 shares of the biotechnology company’s stock after purchasing an additional 7,885 shares during the period. Kintegral Advisory LLC’s holdings in Biogen were worth $4,777,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. KCM Investment Advisors LLC lifted its stake in Biogen by 1.7% in 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. First Horizon Advisors Inc. lifted its stake in Biogen by 39.8% in the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 49 shares during the last quarter. TFB Advisors LLC lifted its stake in 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 acquiring an additional 50 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 51 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Biogen by 2.0% in the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after acquiring an additional 51 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

BIIB stock traded up $0.90 during mid-day trading on Wednesday, hitting $204.20. The stock had a trading volume of 636,977 shares, compared to its average volume of 1,113,283. The company has a current ratio of 2.29, a quick ratio of 1.32 and a debt-to-equity ratio of 0.40. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $270.50. The firm has a market capitalization of $29.73 billion, a P/E ratio of 25.49, a P/E/G ratio of 2.09 and a beta of -0.04. The firm has a fifty day simple moving average of $216.53 and a 200 day simple moving average of $217.59.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the company posted $4.02 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. As a group, research analysts forecast that Biogen Inc. will post 15.87 EPS for the current year.

Analysts Set New Price Targets

BIIB has been the subject of a number of research reports. Royal Bank of Canada raised their target price on shares of Biogen from $282.00 to $292.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. William Blair restated an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd. Truist Financial restated a “buy” rating and set a $302.00 target price (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th. Piper Sandler cut their target price on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, HC Wainwright restated a “buy” rating and set a $300.00 target price on shares of Biogen in a research note on Thursday, May 23rd. Eight analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $276.35.

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.