Biogen Inc. (NASDAQ:BIIB) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 28.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,117 shares of the biotechnology company’s stock after selling 19,274 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Biogen were worth $12,710,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Biogen during the third quarter worth about $26,000. Gladius Capital Management LP purchased a new stake in shares of Biogen in the third quarter valued at about $28,000. KB Financial Partners LLC lifted its holdings in shares of Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Biogen in the fourth quarter valued at about $36,000. Finally, Baker Avenue Asset Management LP lifted its holdings in shares of Biogen by 215.5% in the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 125 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 262 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Priya Singhal sold 262 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 882 shares of company stock valued at $202,030. Insiders own 0.60% of the company’s stock.

Biogen Stock Down 0.1 %

Biogen stock traded down $0.11 during midday trading on Tuesday, hitting $194.00. 423,289 shares of the stock were exchanged, compared to its average volume of 1,151,761. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $319.76. The firm has a market cap of $28.20 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.85 and a beta of -0.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The company has a 50 day moving average price of $214.22 and a two-hundred day moving average price of $235.11.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the firm earned $4.05 EPS. On average, sell-side analysts predict that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BIIB. Barclays reduced their price target on shares of Biogen from $230.00 to $215.00 and set an “equal weight” rating on the stock in a report on Thursday, April 4th. StockNews.com downgraded shares of Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Bank Of America (Bofa) reduced their price target on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $315.00 to $240.00 in a report on Wednesday, February 14th. Finally, Robert W. Baird reduced their price objective on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $295.58.

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.