Kentucky Retirement Systems Insurance Trust Fund Has $580,000 Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 49.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,236 shares of the biotechnology company's stock after selling 4,129 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Biogen were worth $580,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after buying an additional 141 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Biogen in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in Biogen in the 1st quarter valued at $26,000. Colonial Trust Co SC grew its holdings in Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after buying an additional 186 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in Biogen in the 4th quarter valued at $32,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on BIIB shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a report on Thursday, June 12th. Canaccord Genuity Group reduced their target price on Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Piper Sandler reissued a "neutral" rating and set a $115.00 target price on shares of Biogen in a report on Thursday, June 12th. JPMorgan Chase & Co. reduced their target price on Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Finally, Wedbush reissued a "neutral" rating and set a $121.00 target price on shares of Biogen in a report on Thursday, June 12th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Biogen currently has an average rating of "Hold" and a consensus target price of $188.48.

Biogen Trading Down 0.3%

Biogen stock traded down $0.39 during trading hours on Thursday, hitting $126.92. The stock had a trading volume of 863,765 shares, compared to its average volume of 1,429,266. The company has a quick ratio of 1.01, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a market cap of $18.60 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.00 and a beta of 0.14. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00. The business's 50 day simple moving average is $125.37 and its 200-day simple moving average is $135.73.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. Biogen had a net margin of 15.07% and a return on equity of 14.03%. The company's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.67 EPS. On average, equities analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.