California State Teachers Retirement System Boosts Stake in Biogen Inc. (NASDAQ:BIIB)

California State Teachers Retirement System raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 233,318 shares of the biotechnology company's stock after purchasing an additional 2,811 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Biogen worth $35,679,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BIIB. Exchange Traded Concepts LLC boosted its stake in Biogen by 37.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,286 shares of the biotechnology company's stock valued at $350,000 after purchasing an additional 624 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in Biogen by 11.1% during the 4th quarter. Flagship Harbor Advisors LLC now owns 1,553 shares of the biotechnology company's stock valued at $237,000 after purchasing an additional 155 shares during the last quarter. Blue Trust Inc. boosted its stake in Biogen by 39.0% during the 4th quarter. Blue Trust Inc. now owns 656 shares of the biotechnology company's stock valued at $100,000 after purchasing an additional 184 shares during the last quarter. KBC Group NV boosted its stake in Biogen by 0.8% during the 4th quarter. KBC Group NV now owns 33,490 shares of the biotechnology company's stock valued at $5,121,000 after purchasing an additional 261 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Biogen in the 4th quarter worth $121,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Price Performance

Shares of Biogen stock traded up $1.35 during trading hours on Monday, hitting $131.14. The company's stock had a trading volume of 1,868,096 shares, compared to its average volume of 1,413,419. The business has a 50 day moving average price of $123.21 and a two-hundred day moving average price of $138.87. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00. The company has a market cap of $19.22 billion, a PE ratio of 11.72, a PEG ratio of 1.51 and a beta of 0.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the firm earned $3.67 earnings per share. Biogen's revenue was up 6.2% on a year-over-year basis. Analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BIIB shares. Mizuho dropped their price target on Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company dropped their price target on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Robert W. Baird dropped their price target on Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Scotiabank dropped their price target 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. Finally, Hsbc Global Res downgraded Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $191.30.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company's stock.

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.