Public Employees Retirement Association of Colorado Sells 856 Shares of Biogen Inc. (NASDAQ:BIIB)

Public Employees Retirement Association of Colorado decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 4.0% in the first quarter, HoldingsChannel reports. The firm owned 20,594 shares of the biotechnology company’s stock after selling 856 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Biogen were worth $4,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in Biogen by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock valued at $342,772,000 after purchasing an additional 81,283 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Biogen by 3.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 109,159 shares of the biotechnology company’s stock valued at $23,538,000 after purchasing an additional 3,233 shares during the last quarter. Toronto Dominion Bank raised its position in Biogen by 3.7% during the 1st quarter. Toronto Dominion Bank now owns 95,684 shares of the biotechnology company’s stock valued at $20,632,000 after purchasing an additional 3,444 shares during the last quarter. Advisors Asset Management Inc. raised its position in Biogen by 6.5% during the 1st quarter. Advisors Asset Management Inc. now owns 7,441 shares of the biotechnology company’s stock valued at $1,605,000 after purchasing an additional 451 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Biogen during the 1st quarter worth approximately $36,000. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BIIB. JPMorgan Chase & Co. reduced their target price on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. HSBC increased their target price on Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. HC Wainwright reiterated a “buy” rating and set a $300.00 target price on shares of Biogen in a research note on Thursday, May 23rd. Bank of America cut their target price on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $294.00 target price on shares of Biogen in a research note on Friday. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.26.

Biogen Stock Performance

Biogen stock traded up $3.03 during trading on Monday, reaching $214.20. The company had a trading volume of 896,581 shares, compared to its average volume of 1,130,471. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $278.95. The firm’s 50-day simple moving average is $226.29 and its 200 day simple moving average is $224.08. The firm has a market capitalization of $31.19 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.13 and a beta of -0.04. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41.

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.