Duality Advisers LP Acquires Shares of 5,981 Biogen Inc. (NASDAQ:BIIB)

Duality Advisers LP acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,981 shares of the biotechnology company’s stock, valued at approximately $1,290,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Manchester Capital Management LLC increased its position in Biogen by 8.9% during the 1st quarter. Manchester Capital Management LLC now owns 907 shares of the biotechnology company’s stock valued at $196,000 after purchasing an additional 74 shares during the period. McClarren Financial Advisors Inc. increased its position in Biogen by 10,700.0% during the 1st quarter. McClarren Financial Advisors Inc. now owns 216 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 214 shares during the period. TFB Advisors LLC grew its position in shares of Biogen by 2.1% in the 1st quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock worth $530,000 after buying an additional 50 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of Biogen in the 1st quarter worth about $6,550,000. Finally, Larson Financial Group LLC grew its position in shares of Biogen by 480.6% in the 1st quarter. Larson Financial Group LLC now owns 209 shares of the biotechnology company’s stock worth $45,000 after buying an additional 173 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

BIIB traded down $7.07 during trading on Friday, reaching $229.73. 991,653 shares of the company traded hands, compared to its average volume of 1,131,305. 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 Inc. has a 12-month low of $189.44 and a 12-month high of $281.12. The firm has a fifty day simple moving average of $226.25 and a 200 day simple moving average of $227.24. The company has a market cap of $33.45 billion, a P/E ratio of 28.42, a PEG ratio of 2.34 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.40 EPS. On average, equities analysts forecast that Biogen Inc. will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $317.00 target price on shares of Biogen in a research report on Wednesday, June 26th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Wednesday, July 3rd. Truist Financial reaffirmed a “buy” rating and issued a $340.00 target price on shares of Biogen in a research report on Thursday, May 16th. UBS Group reduced their target price on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Biogen currently has a consensus rating of “Moderate Buy” and an average target price of $286.00.

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.