Biogen Inc. (NASDAQ:BIIB) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 24.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,181 shares of the biotechnology company's stock after buying an additional 12,166 shares during the period. Illinois Municipal Retirement Fund's holdings in Biogen were worth $9,509,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BIIB. Pacer Advisors Inc. grew its holdings in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the period. Van ECK Associates Corp grew its holdings in Biogen by 977.9% in 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 period. Mizuho Securities USA LLC grew its holdings in Biogen by 2,715.9% in the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company's stock valued at $61,253,000 after purchasing an additional 304,778 shares during the period. Erste Asset Management GmbH purchased a new stake in Biogen in the third quarter valued at approximately $55,826,000. Finally, State Street Corp grew its holdings in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company's stock valued at $1,423,747,000 after purchasing an additional 248,942 shares during the period. Institutional investors and hedge funds own 87.93% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BIIB. William Blair restated an "outperform" rating on shares of Biogen in a report on Monday, January 13th. Piper Sandler restated a "neutral" rating and issued a $135.00 target price (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Jefferies Financial Group downgraded shares of Biogen from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Scotiabank decreased their price objective on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research note on Thursday, February 13th. Finally, BMO Capital Markets decreased their price objective on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research note on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Biogen presently has an average rating of "Hold" and an average price target of $213.33.

Biogen Stock Up 0.4 %

BIIB traded up $0.62 during trading on Friday, hitting $140.50. The company had a trading volume of 2,324,331 shares, compared to its average volume of 1,468,115. The company has a market cap of $20.57 billion, a PE ratio of 12.56, a P/E/G ratio of 1.51 and a beta of -0.08. The business has a 50-day moving average of $144.43 and a 200-day moving average of $168.73. 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 1-year low of $128.51 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

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.