Biogen Inc. (NASDAQ:BIIB) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 4.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 117,801 shares of the biotechnology company’s stock after selling 5,534 shares during the quarter. New York State Teachers Retirement System’s holdings in Biogen were worth $22,835,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Biogen by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after acquiring an additional 2,163,068 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Biogen by 19,722.9% in the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after purchasing an additional 357,181 shares during the period. RA Capital Management L.P. raised its stake in shares of Biogen by 39.0% during the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after purchasing an additional 207,835 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Biogen by 1,227.4% during the first quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock worth $38,007,000 after purchasing an additional 162,983 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Biogen by 27.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock worth $123,024,000 after purchasing an additional 122,101 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.1 %

Shares of BIIB opened at $173.79 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 1.48. Biogen Inc. has a 1-year low of $173.14 and a 1-year high of $268.30. The stock has a market cap of $25.31 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.82 and a beta of -0.06. The firm has a 50 day simple moving average of $192.71 and a 200-day simple moving average of $209.37.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business posted $4.36 earnings per share. Biogen’s revenue was down 2.5% compared to the same quarter last year. Equities analysts forecast that Biogen Inc. will post 16.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $300.00 price objective on shares of Biogen in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 price target on shares of Biogen in a report on Monday, September 9th. Robert W. Baird reduced their price objective on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Mizuho dropped their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, Barclays cut their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.83.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.

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.