Biogen Inc. (NASDAQ:BIIB) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in Biogen Inc. (NASDAQ:BIIB) by 81.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,933 shares of the biotechnology company’s stock after selling 137,713 shares during the quarter. Retirement Systems of Alabama’s holdings in Biogen were worth $8,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in shares of Biogen by 1.9% in the third quarter. Commonwealth Equity Services LLC now owns 23,416 shares of the biotechnology company’s stock worth $6,018,000 after acquiring an additional 433 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Biogen by 2.5% during the third quarter. Pinnacle Associates Ltd. now owns 4,541 shares of the biotechnology company’s stock worth $1,167,000 after purchasing an additional 112 shares in the last quarter. Raymond James & Associates boosted its position in shares of Biogen by 5.6% in the third quarter. Raymond James & Associates now owns 152,260 shares of the biotechnology company’s stock worth $39,132,000 after buying an additional 8,029 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of Biogen by 1.1% in the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after buying an additional 42 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in shares of Biogen by 20.0% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 877 shares of the biotechnology company’s stock valued at $225,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BIIB shares. Robert W. Baird dropped their price objective on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price target on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Piper Sandler decreased their price objective on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price on shares of Biogen in a research report on Monday, April 29th. Finally, HSBC boosted their price target on Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a research note on Friday. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and an average price target of $290.92.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 262 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Priya Singhal sold 262 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. Insiders have sold a total of 882 shares of company stock worth $202,030 in the last ninety days. 0.60% of the stock is owned by insiders.

Biogen Stock Up 1.9 %

Shares of Biogen stock opened at $217.51 on Friday. The stock has a market capitalization of $31.67 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 2.20 and a beta of -0.01. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $319.76. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $212.12 and its 200-day simple moving average is $232.44.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.40 EPS. Equities research analysts forecast that Biogen Inc. will post 15.57 earnings per share for the current year.

Biogen 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.