Kentucky Retirement Systems Has $1.53 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Kentucky Retirement Systems reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,010 shares of the biotechnology company’s stock after selling 138 shares during the quarter. Kentucky Retirement Systems’ holdings in Biogen were worth $1,531,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BIIB. Ashton Thomas Securities LLC bought a new position in shares of Biogen in the third quarter valued at approximately $33,000. Golden State Wealth Management LLC bought a new position in Biogen during the fourth quarter valued at $41,000. Venturi Wealth Management LLC grew its holdings in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. grew its holdings in Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 90 shares during the period. Finally, Quent Capital LLC grew its holdings in Biogen by 31.9% during the fourth 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. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Up 2.6 %

NASDAQ BIIB opened at $140.64 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The stock has a market capitalization of $20.59 billion, a PE ratio of 12.57, a PEG ratio of 1.47 and a beta of -0.08. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The business’s 50-day moving average is $145.16 and its 200 day moving average is $170.41.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on BIIB shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a report on Monday, December 16th. TD Cowen lowered their price objective on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Oppenheimer lowered their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Barclays lowered their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $213.33.

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.