Illinois Municipal Retirement Fund Has $8.78 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

Illinois Municipal Retirement Fund increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 3.1% in the first quarter, Holdings Channel reports. The firm owned 64,138 shares of the biotechnology company’s stock after buying an additional 1,957 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Biogen were worth $8,777,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BIIB. Signaturefd LLC grew its stake in 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 acquiring an additional 71 shares during the period. Principal Securities Inc. grew its stake in Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 78 shares during the period. Israel Discount Bank of New York grew its stake in Biogen by 6.2% in the fourth quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company’s stock valued at $215,000 after acquiring an additional 82 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in Biogen by 4.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company’s stock valued at $358,000 after acquiring an additional 92 shares during the period. Finally, Quent Capital LLC grew its stake in Biogen by 31.2% in the first quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 93 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BIIB shares. Royal Bank Of Canada set a $213.00 target price on Biogen and gave the company an “outperform” rating in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $187.00 target price on shares of Biogen in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Truist Financial decreased their target price on Biogen from $210.00 to $199.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Finally, Hsbc Global Res lowered Biogen from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $188.48.

Biogen Price Performance

NASDAQ:BIIB opened at $126.08 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $125.68 and its two-hundred day moving average price is $135.32. The firm has a market capitalization of $18.47 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.00 and a beta of 0.14. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a net margin of 15.07% and a return on equity of 14.03%. Biogen’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 EPS. On average, analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

About Biogen

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.