Biogen Inc. (NASDAQ:BIIB) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,016 shares of the biotechnology company’s stock after purchasing an additional 16,271 shares during the period. New York State Common Retirement Fund owned 0.08% of Biogen worth $16,977,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BIIB. Pacer Advisors Inc. grew its stake in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after buying an additional 2,648,024 shares during the period. Van ECK Associates Corp grew its stake in Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after buying an additional 967,523 shares during the period. Mizuho Securities USA LLC grew its stake in Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after buying an additional 304,778 shares during the period. Erste Asset Management GmbH purchased a new stake in Biogen during the third quarter worth approximately $55,826,000. Finally, State Street Corp grew its stake in Biogen by 3.5% during the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Up 2.6 %

Shares of NASDAQ:BIIB opened at $140.64 on Friday. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth 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 company’s fifty day moving average is $145.16 and its two-hundred day moving average is $170.82. 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 released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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%. Equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BIIB shares. Morgan Stanley decreased 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, February 13th. Bank Of America (Bofa) decreased their target price 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. HC Wainwright decreased their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. The Goldman Sachs Group decreased their target price on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Wolfe Research began coverage on shares of Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.