Teacher Retirement System of Texas Grows Position in Biogen Inc. (NASDAQ:BIIB)

Teacher Retirement System of Texas lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 32.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,157 shares of the biotechnology company’s stock after buying an additional 12,765 shares during the period. Teacher Retirement System of Texas’ holdings in Biogen were worth $7,976,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its position in shares of Biogen by 3.5% during the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Biogen by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after purchasing an additional 47,055 shares during the period. Pacer Advisors Inc. grew its stake in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the period. Amundi grew its stake in shares of Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after purchasing an additional 319,478 shares during the period. Finally, RA Capital Management L.P. grew its stake in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after purchasing an additional 202,317 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. HC Wainwright cut their price target on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Bank of America restated a “neutral” rating and set a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. BMO Capital Markets cut their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Citigroup cut their price target on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $213.33.

Biogen Stock Down 0.3 %

Shares of BIIB opened at $140.90 on Friday. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The business’s 50 day simple moving average is $142.16 and its 200-day simple moving average is $162.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data 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%. As a group, equities analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.