Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $4.74 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in Biogen Inc. (NASDAQ:BIIB) by 2.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,984 shares of the biotechnology company’s stock after selling 725 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Biogen were worth $4,738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BIIB. Larson Financial Group LLC grew its holdings in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares during the period. OFI Invest Asset Management bought a new stake in Biogen in the 4th quarter valued at $32,000. SRS Capital Advisors Inc. bought a new stake in Biogen in the 4th quarter valued at $33,000. Golden State Wealth Management LLC bought a new stake in Biogen in the 4th quarter valued at $41,000. Finally, Itau Unibanco Holding S.A. lifted its position in Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 0.3 %

Shares of BIIB opened at $140.90 on Friday. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The firm has a market cap of $20.62 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The firm’s 50-day simple moving average is $142.16 and its 200 day simple moving average is $162.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BIIB shares. Scotiabank cut their price objective on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Truist Financial cut their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Wells Fargo & Company cut their price objective on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Piper Sandler reissued a “neutral” rating and set a $135.00 price target (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Finally, BMO Capital Markets cut their price target on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $213.33.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

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.