Arizona State Retirement System Sells 951 Shares of Biogen Inc. (NASDAQ:BIIB)

Arizona State Retirement System reduced its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 40,770 shares of the biotechnology company’s stock after selling 951 shares during the quarter. Arizona State Retirement System’s holdings in Biogen were worth $6,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Grandfield & Dodd LLC boosted its stake in Biogen by 5.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares during the period. Quent Capital LLC boosted its stake in Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares during the period. TD Private Client Wealth LLC boosted its stake in Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares during the period. Principal Securities Inc. boosted its stake in Biogen by 30.1% in the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 78 shares during the period. Finally, Huntington National Bank boosted its stake in Biogen by 3.5% in the 3rd quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock valued at $447,000 after purchasing an additional 79 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. The Goldman Sachs Group reduced their price target on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Sanford C. Bernstein began coverage on Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price objective for the company. Robert W. Baird lifted their price objective on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Truist Financial dropped their price objective on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, HC Wainwright dropped their price objective on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $213.33.

Biogen Trading Up 2.0 %

Shares of BIIB stock opened at $150.38 on Friday. The firm has a market capitalization of $22.01 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.51 and a beta of -0.08. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $143.98 and its 200 day simple moving average is $166.73.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data 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%. As a group, sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.