New York State Teachers Retirement System Sells 6,673 Shares of Biogen Inc. (NASDAQ:BIIB)

New York State Teachers Retirement System lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,128 shares of the biotechnology company’s stock after selling 6,673 shares during the quarter. New York State Teachers Retirement System’s holdings in Biogen were worth $16,994,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of BIIB. Ashton Thomas Securities LLC bought a new stake in shares of Biogen in the 3rd quarter worth approximately $33,000. Golden State Wealth Management LLC bought a new stake in shares of Biogen in the 4th quarter worth approximately $41,000. Venturi Wealth Management LLC raised its holdings in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares during the period. Finally, Quent Capital LLC raised its holdings in shares of Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the topic of a number of research reports. Wolfe Research started coverage on shares of Biogen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Piper Sandler lowered shares of Biogen from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $315.00 to $138.00 in a research note on Thursday, January 2nd. Canaccord Genuity Group reduced their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Morgan Stanley reduced their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research note on Thursday. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $211.96.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $137.33 on Monday. The company has a market cap of $20.01 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The company has a 50-day moving average price of $146.90 and a 200-day moving average price of $172.99. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. As a group, equities analysts anticipate that Biogen Inc. will post 16.42 EPS 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.