Public Employees Retirement Association of Colorado Sells 523 Shares of Biogen Inc. (NASDAQ:BIIB)

Public Employees Retirement Association of Colorado lessened its holdings in Biogen Inc. (NASDAQ:BIIB) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,071 shares of the biotechnology company’s stock after selling 523 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Biogen were worth $4,653,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BIIB. KCM Investment Advisors LLC grew its holdings in shares of Biogen by 1.7% during the 1st quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock valued at $637,000 after purchasing an additional 48 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after buying an additional 49 shares during the last quarter. TFB Advisors LLC increased its holdings in shares of Biogen by 2.1% during the first quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock worth $530,000 after buying an additional 50 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Biogen by 2.0% in the 1st quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after acquiring an additional 51 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its stake in shares of Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Biogen Price Performance

BIIB stock opened at $199.36 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The company’s 50-day moving average is $207.31 and its 200-day moving average is $214.98. The stock has a market capitalization of $29.03 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 2.01 and a beta of -0.06. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $269.43.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the firm posted $4.02 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. Equities research analysts expect that Biogen Inc. will post 16.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on BIIB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $292.00 target price on shares of Biogen in a report on Thursday. Truist Financial reiterated a “buy” rating and issued a $302.00 price objective (down previously from $340.00) on shares of Biogen in a report on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 target price on shares of Biogen in a report on Monday, September 9th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Wednesday, July 3rd. Finally, StockNews.com upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $275.52.

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.