Oregon Public Employees Retirement Fund Has $18.40 Million Position in Biogen Inc. (NASDAQ:BIIB)


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Oregon Public Employees Retirement Fund lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 24.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 75,139 shares of the biotechnology company’s stock after selling 24,266 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Biogen were worth $18,399,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Primecap Management Co. CA lifted its position in shares of Biogen by 0.8% during the 4th quarter. Primecap Management Co. CA now owns 15,822,066 shares of the biotechnology company’s stock valued at $3,874,191,000 after acquiring an additional 125,362 shares during the period. UBS Asset Management Americas Inc. increased its stake in Biogen by 1.6% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,329,648 shares of the biotechnology company’s stock valued at $377,195,000 after purchasing an additional 20,877 shares in the last quarter. Wells Fargo & Company MN increased its stake in Biogen by 1.0% during the 3rd quarter. Wells Fargo & Company MN now owns 752,373 shares of the biotechnology company’s stock valued at $213,432,000 after purchasing an additional 7,649 shares in the last quarter. Morgan Stanley increased its stake in Biogen by 84.1% during the 3rd quarter. Morgan Stanley now owns 693,397 shares of the biotechnology company’s stock valued at $196,704,000 after purchasing an additional 316,681 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Biogen by 39.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 563,066 shares of the biotechnology company’s stock valued at $159,728,000 after purchasing an additional 160,408 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

In other Biogen news, CEO Michel Vounatsos acquired 3,100 shares of the company’s stock in a transaction on Monday, November 30th. The shares were acquired at an average cost of $241.31 per share, with a total value of $748,061.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

A number of brokerages have commented on BIIB. BMO Capital Markets upgraded shares of Biogen to a “market perform” rating and boosted their price target for the company from $280.00 to $343.00 in a research note on Thursday, November 5th. They noted that the move was a valuation call. Cantor Fitzgerald decreased their price target on shares of Biogen from $278.00 to $268.00 and set a “neutral” rating for the company in a research note on Wednesday, February 17th. Canaccord Genuity boosted their price target on shares of Biogen from $350.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Bank of America lowered shares of Biogen from a “neutral” rating to an “underperform” rating and set a $240.00 price target for the company. in a research note on Monday, November 9th. Finally, DZ Bank lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $264.00 target price for the company. in a research note on Friday, February 5th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $304.47.

NASDAQ BIIB traded down $5.07 during trading on Tuesday, hitting $279.56. 23,162 shares of the company’s stock traded hands, compared to its average volume of 1,354,261. The stock has a market capitalization of $42.59 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 1.04 and a beta of 0.53. Biogen Inc. has a 12-month low of $223.25 and a 12-month high of $363.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.79 and a current ratio of 2.06. The business has a 50 day moving average of $270.03 and a 200-day moving average of $267.95.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, February 2nd. The biotechnology company reported $4.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.87 by ($0.29). The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Biogen had a net margin of 35.63% and a return on equity of 51.00%. Biogen’s revenue for the quarter was down 22.3% compared to the same quarter last year. During the same period last year, the company earned $8.34 earnings per share. On average, analysts expect that Biogen Inc. will post 33.63 EPS for the current year.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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