New York State Teachers Retirement System Sells 6,673 Shares of Biogen Inc. (NASDAQ:BIIB)

New York State Teachers Retirement System lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 5.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 111,128 shares of the biotechnology company's stock after selling 6,673 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Biogen worth $16,994,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in Biogen in the 3rd quarter valued at approximately $33,000. Venturi Wealth Management LLC raised its holdings in 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 in the last quarter. Itau Unibanco Holding S.A. raised its holdings in 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 in the last quarter. Golden State Wealth Management LLC acquired a new position in Biogen in the 4th quarter valued at approximately $41,000. Finally, Quent Capital LLC raised its holdings in 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 in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $135.00 price target (down previously from $138.00) on shares of Biogen in a report on Tuesday. Scotiabank lowered their price objective on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered their price objective on Biogen from $220.00 to $210.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group lowered Biogen from a "buy" rating to a "hold" rating and lowered their price objective for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, Mizuho lowered their price objective on Biogen from $251.00 to $207.00 and set an "outperform" rating on the stock in a research note on Thursday, November 21st. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $211.85.

Biogen Trading Up 0.3 %

Shares of BIIB stock traded up $0.40 during trading hours on Thursday, reaching $137.08. The company had a trading volume of 2,056,403 shares, compared to its average volume of 1,437,673. The company has a 50 day moving average of $145.71 and a 200 day moving average of $171.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a market cap of $20.07 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.47 and a beta of -0.08. 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 for the quarter, beating analysts' consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, equities research analysts anticipate that Biogen Inc. will post 15.84 EPS 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.