Arizona State Retirement System Sells 951 Shares of Biogen Inc. (NASDAQ:BIIB)

Arizona State Retirement System decreased its position in Biogen Inc. (NASDAQ:BIIB) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,770 shares of the biotechnology company’s stock after selling 951 shares during the period. Arizona State Retirement System’s holdings in Biogen were worth $6,235,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BIIB. State Street Corp lifted its stake in Biogen by 3.5% in 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 period. Geode Capital Management LLC lifted its stake in Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after buying an additional 47,055 shares during the period. Pacer Advisors Inc. lifted its stake in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after buying an additional 2,648,024 shares during the period. RA Capital Management L.P. lifted its stake in Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after buying an additional 202,317 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Biogen by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after buying an additional 18,905 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 2.0 %

BIIB stock opened at $150.38 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $143.98 and a two-hundred day moving average price of $166.73. The company has a market cap of $22.01 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.51 and a beta of -0.08. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 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%. Analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BIIB shares. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a research note on Monday, December 16th. Robert W. Baird increased their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. The Goldman Sachs Group dropped their price target on Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Wolfe Research started coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, HC Wainwright dropped their price target on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Biogen currently has an average 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.