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

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in Biogen Inc. (NASDAQ:BIIB) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,984 shares of the biotechnology company’s stock after selling 725 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Biogen were worth $4,738,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Signaturefd LLC grew its position in shares of Biogen by 3.5% in the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after purchasing an additional 71 shares during the last quarter. Quent Capital LLC grew its position in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after buying an additional 72 shares in the last quarter. TD Private Client Wealth LLC grew its position in Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after buying an additional 77 shares in the last quarter. Principal Securities Inc. grew its position in Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after buying an additional 78 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock worth $767,000 after buying an additional 79 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of Biogen stock opened at $140.90 on Friday. 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 firm has a market cap of $20.62 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.51 and a beta of 0.01. The firm has a 50 day simple moving average of $142.16 and a 200 day simple moving average of $162.11. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating 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%. Sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction 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 completion of the sale, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BIIB. Piper Sandler reissued a “neutral” rating and set a $135.00 target price (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Bank of America reissued a “neutral” rating and set a $178.00 target price on shares of Biogen in a research report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Scotiabank cut their price target on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Finally, Bank Of America (Bofa) cut their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $213.33.

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.