State of New Jersey Common Pension Fund D Trims Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

State of New Jersey Common Pension Fund D lowered its position in Biogen Inc. (NASDAQ:BIIB) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,160 shares of the biotechnology company’s stock after selling 824 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Biogen were worth $7,976,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grandfield & Dodd LLC grew its holdings in Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares during the last quarter. Quintet Private Bank Europe S.A. grew its holdings in Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 63 shares during the last quarter. Quent Capital LLC grew its holdings in Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares during the last quarter. Finally, Principal Securities Inc. grew its holdings 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 purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BIIB. Barclays decreased their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Bank Of America (Bofa) decreased their price objective on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. HC Wainwright decreased their price objective on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Scotiabank decreased their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen has an average rating of “Hold” and an average target price of $211.85.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $136.57 on Wednesday. The company has a market cap of $19.90 billion, a P/E ratio of 12.34, a PEG ratio of 1.65 and a beta of -0.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The business’s 50-day simple moving average is $146.52 and its 200 day simple moving average is $172.19.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. On average, sell-side analysts forecast that Biogen Inc. will post 16.42 earnings per share for the current fiscal 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.