New York State Teachers Retirement System raised its position in Biogen Inc. (NASDAQ:BIIB – Get Rating) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,698 shares of the biotechnology company’s stock after buying an additional 801 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Biogen worth $45,331,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new stake in Biogen in the 3rd quarter valued at about $25,000. FNY Investment Advisers LLC grew its holdings in shares of Biogen by 526.7% during the 3rd quarter. FNY Investment Advisers LLC now owns 94 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. MinichMacGregor Wealth Management LLC bought a new position in shares of Biogen in the fourth quarter worth $28,000. CVA Family Office LLC raised its stake in Biogen by 50.0% in the third quarter. CVA Family Office LLC now owns 105 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 35 shares in the last quarter. Finally, Trustcore Financial Services LLC lifted its position in Biogen by 564.7% during the third quarter. Trustcore Financial Services LLC now owns 113 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 96 shares during the period. Institutional investors own 84.40% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on BIIB shares. Morgan Stanley boosted their target price on shares of Biogen from $345.00 to $351.00 and gave the company an “overweight” rating in a research report on Thursday, February 16th. Royal Bank of Canada increased their price objective on shares of Biogen from $335.00 to $350.00 in a research note on Monday, March 13th. StockNews.com assumed coverage on shares of Biogen in a research report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. HC Wainwright reissued a “buy” rating and set a $325.00 price objective on shares of Biogen in a report on Thursday, March 23rd. Finally, UBS Group boosted their target price on shares of Biogen from $337.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $319.00.
Biogen Stock Performance
Biogen (NASDAQ:BIIB – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The biotechnology company reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.57. Biogen had a return on equity of 20.96% and a net margin of 29.95%. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the firm posted $3.39 earnings per share. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, research analysts anticipate that Biogen Inc. will post 15.53 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Priya Singhal sold 91 shares of Biogen stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $277.11, for a total transaction of $25,217.01. Following the completion of the transaction, the insider now directly owns 2,843 shares in the company, valued at $787,823.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.65% of the company’s stock.
Biogen Profile
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. Its products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA, ADUHELM for the treatment of Alzheimer’s disease, and FUMADERM for the treatment of severe plaque psoriasis.
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