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

Public Employees Retirement Association of Colorado lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen in the 4th quarter valued at about $25,000. Larson Financial Group LLC raised its stake in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 141 shares during the period. SRS Capital Advisors Inc. acquired a new stake in shares of Biogen in the 4th quarter valued at about $33,000. OFI Invest Asset Management acquired a new stake in shares of Biogen in the 4th quarter valued at about $32,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Biogen in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Up 0.9 %

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

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on BIIB. Piper Sandler dropped their price target on Biogen from $135.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday. HSBC downgraded Biogen from a “buy” rating to a “hold” rating and set a $118.00 price target on the stock. in a research note on Monday. Truist Financial decreased their price objective on Biogen from $210.00 to $199.00 and set a “buy” rating for the company in a report on Tuesday. Royal Bank of Canada raised their price objective on Biogen from $221.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group decreased their price objective on Biogen from $219.00 to $197.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $201.93.

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.