Public Employees Retirement Association of Colorado Has $2.91 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

Public Employees Retirement Association of Colorado cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,043 shares of the biotechnology company’s stock after selling 1,039 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Biogen were worth $2,912,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BIIB. Larson Financial Group LLC boosted its stake in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in Biogen in the fourth quarter valued at about $25,000. OFI Invest Asset Management acquired a new stake in Biogen in the fourth quarter valued at about $32,000. SRS Capital Advisors Inc. acquired a new stake in Biogen in the fourth quarter valued at about $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Biogen during the fourth quarter valued at about $41,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Up 0.9 %

Biogen stock opened at $120.17 on Wednesday. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. The firm has a market capitalization of $17.59 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The firm’s fifty day moving average price is $131.78 and its two-hundred day moving average price is $148.18. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

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, 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%. On average, equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BIIB shares. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Argus lowered Biogen from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Morgan Stanley cut their price target on Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets cut their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial cut their price target on Biogen from $210.00 to $199.00 and set a “buy” rating on the stock in a research note on Tuesday. Twenty analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $201.93.

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.