Louisiana State Employees Retirement System Reduces Stock Position in Biogen Inc. (NASDAQ:BIIB)

Louisiana State Employees Retirement System trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,400 shares of the biotechnology company’s stock after selling 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Biogen were worth $2,814,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Biogen in the 3rd quarter valued at approximately $33,000. Golden State Wealth Management LLC bought a new stake in shares of Biogen in the 4th quarter valued at approximately $41,000. Venturi Wealth Management LLC increased its holdings in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 90 shares during the last quarter. Finally, Quent Capital LLC increased its holdings in shares of Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 72 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Up 3.8 %

Shares of Biogen stock opened at $138.45 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a market cap of $20.17 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The business has a fifty day simple moving average of $147.73 and a 200-day simple moving average of $174.05. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. On average, equities analysts forecast that Biogen Inc. will post 16.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent research reports. Wolfe Research initiated coverage on Biogen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Morgan Stanley lowered their price objective on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research note on Thursday. Scotiabank lowered their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday. Finally, Piper Sandler downgraded Biogen from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $315.00 to $138.00 in a research note on Thursday, January 2nd. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Biogen has a consensus rating of “Hold” and a consensus target price of $211.96.

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.