Public Employees Retirement Association of Colorado Has $4.44 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Public Employees Retirement Association of Colorado trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,594 shares of the biotechnology company’s stock after selling 856 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Biogen were worth $4,441,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in Biogen by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock valued at $342,772,000 after buying an additional 81,283 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Biogen by 3.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 109,159 shares of the biotechnology company’s stock worth $23,538,000 after purchasing an additional 3,233 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Biogen by 3.7% during the 1st quarter. Toronto Dominion Bank now owns 95,684 shares of the biotechnology company’s stock worth $20,632,000 after purchasing an additional 3,444 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Biogen by 6.5% during the 1st quarter. Advisors Asset Management Inc. now owns 7,441 shares of the biotechnology company’s stock worth $1,605,000 after purchasing an additional 451 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Biogen during the 1st quarter worth $36,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Trading Up 1.4 %

NASDAQ BIIB traded up $3.03 during trading hours on Monday, hitting $214.20. 896,581 shares of the company’s stock were exchanged, compared to its average volume of 1,130,471. The stock has a 50-day simple moving average of $226.29 and a 200 day simple moving average of $224.08. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $278.95. The firm has a market cap of $31.19 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.13 and a beta of -0.04. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Robert W. Baird reduced their target price on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a report on Monday. Barclays reduced their target price on Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Wedbush increased their target price on Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. HSBC upped their price objective on Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $283.26.

Biogen Company 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.