New York State Teachers Retirement System Decreases Stake in Biogen Inc. (NASDAQ:BIIB)

New York State Teachers Retirement System cut its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 4.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,801 shares of the biotechnology company’s stock after selling 5,534 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Biogen worth $22,835,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Biogen by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after purchasing an additional 2,163,068 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Biogen by 19,722.9% during the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after buying an additional 357,181 shares during the last quarter. RA Capital Management L.P. grew its holdings in Biogen by 39.0% in the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after buying an additional 207,835 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Biogen by 1,227.4% in the 1st quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock worth $38,007,000 after acquiring an additional 162,983 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Biogen by 27.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock worth $123,024,000 after acquiring an additional 122,101 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wedbush dropped their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $300.00 price target on shares of Biogen in a report on Thursday. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. BMO Capital Markets lowered their price objective on Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Mizuho reduced their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.83.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Biogen Trading Down 0.1 %

NASDAQ:BIIB opened at $173.79 on Friday. The stock has a fifty day moving average price of $192.71 and a 200 day moving average price of $209.37. The company has a current ratio of 1.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12-month low of $173.14 and a 12-month high of $268.30. The firm has a market cap of $25.31 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.82 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.36 earnings per share. Sell-side analysts anticipate that Biogen Inc. will post 16.17 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.