National Pension Service Decreases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

National Pension Service trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB – Get Rating) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 205,652 shares of the biotechnology company’s stock after selling 8,362 shares during the quarter. National Pension Service owned about 0.14% of Biogen worth $54,350,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BIIB. FNY Investment Advisers LLC lifted its position in shares of Biogen by 526.7% during the third quarter. FNY Investment Advisers LLC now owns 94 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Larson Financial Group LLC purchased a new position in shares of Biogen in the 3rd quarter valued at approximately $25,000. Trustcore Financial Services LLC raised its position in shares of Biogen by 564.7% in the 3rd quarter. Trustcore Financial Services LLC now owns 113 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 96 shares during the last quarter. Wellington Shields & Co. LLC purchased a new position in shares of Biogen in the 2nd quarter valued at approximately $31,000. Finally, Penserra Capital Management LLC raised its position in shares of Biogen by 466.7% in the 3rd quarter. Penserra Capital Management LLC now owns 136 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 112 shares during the last quarter. 84.40% of the stock is owned by hedge funds and other institutional investors.

Biogen Trading Up 0.0 %

Shares of NASDAQ:BIIB opened at $262.37 on Thursday. Biogen Inc. has a 1 year low of $187.16 and a 1 year high of $311.88. The firm has a market capitalization of $37.91 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 2.17 and a beta of 0.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.99 and a quick ratio of 2.58. The business’s 50 day moving average price is $279.04 and its 200-day moving average price is $268.48.

Biogen (NASDAQ:BIIB – Get Rating) last announced its earnings results on Wednesday, February 15th. The biotechnology company reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.57. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.44 billion. Biogen had a return on equity of 20.96% and a net margin of 29.95%. The business’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.39 EPS. On average, equities research analysts forecast that Biogen Inc. will post 15.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

BIIB has been the subject of several research analyst reports. Jefferies Financial Group increased their price objective on shares of Biogen from $325.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, November 30th. HC Wainwright reiterated a “buy” rating and issued a $325.00 price target on shares of Biogen in a report on Thursday, February 16th. Royal Bank of Canada increased their price target on shares of Biogen from $335.00 to $350.00 in a report on Monday. Barclays increased their price target on shares of Biogen from $275.00 to $313.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 30th. Finally, Cowen increased their price target on shares of Biogen from $300.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, February 16th. Seven analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and an average target price of $315.38.

About Biogen

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Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis, SPINRAZA for the treatment of spinal muscular atrophy, and FUMADERM for the treatment of severe plaque psoriasis.