Illinois Municipal Retirement Fund Has $12.71 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Illinois Municipal Retirement Fund lowered 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 period. 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.

Several other institutional investors have also recently made changes to their positions in the stock. California Public Employees Retirement System increased its position in shares of Biogen by 29.2% during the fourth quarter. California Public Employees Retirement System now owns 363,209 shares of the biotechnology company’s stock worth $93,988,000 after acquiring an additional 82,046 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Biogen by 7.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 127,488 shares of the biotechnology company’s stock worth $32,990,000 after acquiring an additional 9,284 shares in the last quarter. RWA Wealth Partners LLC bought a new stake in shares of Biogen during the fourth quarter worth about $782,000. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Biogen by 6.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,770 shares of the biotechnology company’s stock worth $3,046,000 after acquiring an additional 750 shares in the last quarter. Finally, abrdn plc increased its position in shares of Biogen by 237.4% during the fourth quarter. abrdn plc now owns 437,075 shares of the biotechnology company’s stock worth $113,102,000 after acquiring an additional 307,532 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling

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

Biogen Price Performance

Shares of NASDAQ BIIB traded down $0.11 during mid-day trading on Tuesday, reaching $194.00. 423,289 shares of the company were exchanged, compared to its average volume of 1,151,761. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $28.20 billion, a PE ratio of 24.32, a PEG ratio of 1.85 and a beta of -0.02. The company’s 50 day moving average price is $214.22 and its 200 day moving average price is $235.11.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on BIIB. UBS Group reduced their price objective on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. BTIG Research reaffirmed a “neutral” rating on shares of Biogen in a research report on Sunday, January 7th. Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $315.00 to $240.00 in a research report on Wednesday, February 14th. Canaccord Genuity Group reduced their price objective on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Finally, Wedbush reduced their price objective on shares of Biogen from $245.00 to $213.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $295.58.

Biogen 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.