Kentucky Retirement Systems Has $1.97 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Kentucky Retirement Systems trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 7.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,148 shares of the biotechnology company’s stock after selling 824 shares during the period. Kentucky Retirement Systems’ holdings in Biogen were worth $1,967,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in shares of Biogen by 39.8% in the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 49 shares in the last quarter. Plato Investment Management Ltd raised its stake in shares of Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of Biogen by 3.4% during the first quarter. Jacobi Capital Management LLC now owns 1,664 shares of the biotechnology company’s stock worth $359,000 after purchasing an additional 55 shares in the last quarter. CWM LLC grew its stake in shares of Biogen by 1.7% during the second quarter. CWM LLC now owns 3,765 shares of the biotechnology company’s stock valued at $873,000 after purchasing an additional 62 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in shares of 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 in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Down 3.0 %

Shares of BIIB stock opened at $159.99 on Monday. Biogen Inc. has a 52-week low of $159.60 and a 52-week high of $268.30. The stock has a market cap of $23.31 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.51 and a beta of -0.06. The firm’s 50-day moving average is $185.99 and its 200-day moving average is $207.27. 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 (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $4.36 earnings per share. Sell-side analysts predict that Biogen Inc. will post 16.42 EPS for the current year.

Analyst Ratings Changes

BIIB has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $292.00 price objective on shares of Biogen in a research report on Monday, September 9th. Scotiabank dropped their price objective on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. Oppenheimer reduced their target price on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Robert W. Baird lifted their price target on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Citigroup assumed coverage on shares of Biogen in a research note on Thursday. They issued a “neutral” rating and a $190.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $258.96.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The trade was a 7.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Biogen Company 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.