Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Teachers Retirement System of The State of Kentucky lowered its holdings in Biogen Inc. (NASDAQ:BIIB) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,849 shares of the biotechnology company’s stock after selling 638 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Biogen were worth $2,555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. KCM Investment Advisors LLC boosted its holdings 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. Massachusetts Wealth Management boosted its holdings in Biogen by 1.6% in the fourth quarter. Massachusetts Wealth Management now owns 3,250 shares of the biotechnology company’s stock valued at $841,000 after acquiring an additional 50 shares during the last quarter. TFB Advisors LLC boosted its holdings 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. DGS Capital Management LLC boosted its holdings in Biogen by 4.2% in the fourth quarter. DGS Capital Management LLC now owns 1,265 shares of the biotechnology company’s stock valued at $327,000 after acquiring an additional 51 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings 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. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BIIB shares. HC Wainwright reiterated a “buy” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday, May 23rd. Oppenheimer restated an “outperform” rating and set a $270.00 price objective on shares of Biogen in a research note on Monday, April 29th. Truist Financial restated a “buy” rating and set a $340.00 price objective on shares of Biogen in a research note on Thursday, May 16th. UBS Group reduced their price objective on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Finally, Scotiabank reduced their price objective on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research note on Friday. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and a consensus target price of $279.08.

Biogen Stock Down 2.4 %

Biogen stock traded down $5.04 during midday trading on Friday, hitting $205.66. The stock had a trading volume of 1,768,714 shares, compared to its average volume of 1,081,031. The company has a current ratio of 2.29, a quick ratio of 1.32 and a debt-to-equity ratio of 0.40. The stock has a market cap of $29.94 billion, a P/E ratio of 25.68, a P/E/G ratio of 2.09 and a beta of -0.04. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $278.95. The business has a fifty day moving average price of $225.01 and a 200 day moving average price of $222.97.

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

About Biogen

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.