Treasurer of the State of North Carolina Sells 2,680 Shares of Biogen Inc. (NASDAQ:BIIB)

Treasurer of the State of North Carolina decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 88,687 shares of the biotechnology company’s stock after selling 2,680 shares during the period. Treasurer of the State of North Carolina owned approximately 0.06% of Biogen worth $13,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BIIB. Pacer Advisors Inc. boosted its position in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares during the last quarter. Norges Bank purchased a new stake in Biogen in the fourth quarter valued at approximately $355,569,000. Van ECK Associates Corp lifted its position in Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after purchasing an additional 967,523 shares during the last quarter. Invesco Ltd. grew its stake in Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock worth $325,537,000 after buying an additional 499,074 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Biogen by 98.7% in the 4th quarter. FMR LLC now owns 757,570 shares of the biotechnology company’s stock worth $115,848,000 after buying an additional 376,356 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Biogen Trading Up 1.6 %

NASDAQ:BIIB opened at $115.17 on Friday. The firm has a market capitalization of $16.86 billion, a P/E ratio of 10.29, a PEG ratio of 1.51 and a beta of 0.06. 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 one year low of $110.04 and a one year high of $238.00. The company’s 50-day simple moving average is $136.74 and its 200 day simple moving average is $154.02.

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%. As a group, analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BIIB shares. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Wells Fargo & Company reduced their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Citigroup dropped their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada reduced their price target on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Argus lowered shares of Biogen from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $213.15.

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.