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

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,487 shares of the biotechnology company’s stock after selling 521 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Biogen were worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Gladius Capital Management LP acquired a new stake in Biogen during the 3rd quarter worth about $28,000. KB Financial Partners LLC lifted its position in Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 62 shares during the period. Hexagon Capital Partners LLC lifted its position in Biogen by 76.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 51 shares during the period. CVA Family Office LLC acquired a new stake in Biogen during the 4th quarter worth about $36,000. Finally, Baker Avenue Asset Management LP lifted its position in Biogen by 215.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 125 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on BIIB shares. Wedbush lifted their price target on Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. UBS Group decreased their price objective on Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $294.00 price objective on shares of Biogen in a report on Wednesday, May 22nd. Barclays decreased their price objective on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $300.00 price objective on shares of Biogen in a report on Thursday, May 23rd. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $286.50.

Biogen Price Performance

BIIB stock opened at $223.65 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. The business has a 50 day simple moving average of $217.51 and a 200-day simple moving average of $229.19. The firm has a market capitalization of $32.56 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 2.33 and a beta of -0.02. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $298.73.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.40 earnings per share. Equities research analysts anticipate that Biogen Inc. will post 15.63 earnings per share for the current fiscal 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.