Teachers Retirement System of The State of Kentucky Sells 458 Shares of Biogen Inc. (NASDAQ:BIIB)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Biogen Inc. (NASDAQ:BIIBGet Rating) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,525 shares of the biotechnology company’s stock after selling 458 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Biogen were worth $2,217,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new position in shares of Biogen during the first quarter valued at about $823,000. TownSquare Capital LLC grew its position in shares of Biogen by 31.9% during the first quarter. TownSquare Capital LLC now owns 11,978 shares of the biotechnology company’s stock valued at $2,522,000 after purchasing an additional 2,894 shares in the last quarter. AIA Group Ltd grew its position in shares of Biogen by 42.2% during the first quarter. AIA Group Ltd now owns 2,197 shares of the biotechnology company’s stock valued at $463,000 after purchasing an additional 652 shares in the last quarter. IndexIQ Advisors LLC grew its position in shares of Biogen by 6.5% during the first quarter. IndexIQ Advisors LLC now owns 3,014 shares of the biotechnology company’s stock valued at $636,000 after purchasing an additional 185 shares in the last quarter. Finally, Stephens Inc. AR grew its position in shares of Biogen by 18.5% during the fourth quarter. Stephens Inc. AR now owns 18,947 shares of the biotechnology company’s stock valued at $4,546,000 after purchasing an additional 2,952 shares in the last quarter. Hedge funds and other institutional investors own 83.45% of the company’s stock.

Biogen Trading Down 2.4 %

Shares of NASDAQ BIIB opened at $204.20 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.94 and a quick ratio of 1.68. The stock has a market capitalization of $29.63 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 0.95 and a beta of 0.43. Biogen Inc. has a 1-year low of $187.16 and a 1-year high of $304.21. The business has a fifty day moving average price of $209.88 and a 200 day moving average price of $207.14.

Biogen (NASDAQ:BIIBGet Rating) last issued its quarterly earnings data on Wednesday, July 20th. The biotechnology company reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.09 by $1.16. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Biogen had a return on equity of 22.36% and a net margin of 19.36%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $5.68 EPS. Equities research analysts expect that Biogen Inc. will post 16.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BIIB shares. Needham & Company LLC cut their price objective on Biogen from $262.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, July 21st. Oppenheimer lifted their price target on Biogen from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, July 18th. Truist Financial dropped their price target on Biogen from $320.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, July 21st. Stifel Nicolaus dropped their price target on Biogen from $230.00 to $223.00 and set a “hold” rating for the company in a research report on Monday, September 12th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $224.00 price target on shares of Biogen in a research report on Tuesday, August 2nd. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.79.

Biogen Company Profile

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Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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