Biogen Inc. (NASDAQ:BIIB) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 10.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,530 shares of the biotechnology company’s stock after selling 7,263 shares during the period. Public Employees Retirement System of Ohio’s holdings in Biogen were worth $13,915,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Livelsberger Financial Advisory acquired a new stake in Biogen during the fourth quarter worth about $26,000. Hexagon Capital Partners LLC grew its holdings in Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 51 shares during the period. Rise Advisors LLC acquired a new stake in Biogen during the first quarter worth about $27,000. EntryPoint Capital LLC acquired a new stake in Biogen during the first quarter worth about $36,000. Finally, Atticus Wealth Management LLC acquired a new stake in Biogen during the first quarter worth about $43,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $294.00 price target on shares of Biogen in a research report on Friday. UBS Group lowered their price target on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. JPMorgan Chase & Co. decreased their target price on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Wednesday, July 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $300.00 price objective on shares of Biogen in a research report on Thursday, May 23rd. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average price target of $283.26.

Biogen Stock Up 1.3 %

BIIB traded up $2.85 on Tuesday, hitting $217.28. 157,183 shares of the company were exchanged, compared to its average volume of 1,128,183. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $278.95. The company has a market cap of $31.64 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 2.13 and a beta of -0.04. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $225.95 and a two-hundred day moving average price of $223.85.

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.