Biogen Inc. (NASDAQ:BIIB) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,010 shares of the biotechnology company’s stock after selling 138 shares during the quarter. Kentucky Retirement Systems’ holdings in Biogen were worth $1,531,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Biogen during the third quarter worth about $33,000. Venturi Wealth Management LLC lifted its position in shares of Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Biogen in the fourth quarter valued at approximately $41,000. Finally, Quent Capital LLC raised its holdings in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of BIIB stock opened at $140.64 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.47 and a beta of -0.08. The stock’s fifty day simple moving average is $145.16 and its 200 day simple moving average is $170.41. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BIIB. HC Wainwright cut their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Mizuho decreased their price objective on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. The Goldman Sachs Group reduced their target price on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Finally, BMO Capital Markets dropped their price objective on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $213.33.

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.