Kentucky Retirement Systems Insurance Trust Fund Grows Stock Position in Biogen Inc. (NASDAQ:BIIB)

Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 93.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,365 shares of the biotechnology company's stock after acquiring an additional 4,052 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Biogen were worth $1,279,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. State Street Corp boosted its position in shares of Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company's stock valued at $1,423,747,000 after acquiring an additional 248,942 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Biogen by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company's stock valued at $698,062,000 after acquiring an additional 47,055 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock valued at $407,919,000 after acquiring an additional 2,648,024 shares during the last quarter. RA Capital Management L.P. boosted its position in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company's stock valued at $229,595,000 after acquiring an additional 202,317 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Biogen by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company's stock valued at $223,438,000 after acquiring an additional 18,905 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of research reports. Oppenheimer decreased their price objective on Biogen from $270.00 to $255.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. decreased their price target on shares of Biogen from $220.00 to $210.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. William Blair reissued an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Scotiabank decreased their price target on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 13th. Finally, HC Wainwright decreased their price target on shares of Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $211.85.

Biogen Stock Up 2.6 %

Biogen stock traded up $3.56 during mid-day trading on Friday, reaching $140.64. The stock had a trading volume of 1,807,566 shares, compared to its average volume of 1,448,624. The company has a market capitalization of $20.59 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.47 and a beta of -0.08. The company has a 50-day moving average price of $145.34 and a two-hundred day moving average price of $171.22. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. 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 (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, analysts expect that Biogen Inc. will post 15.84 EPS for the current fiscal 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.