Biogen Inc. (NASDAQ:BIIB) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund increased its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 18.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,146 shares of the biotechnology company's stock after buying an additional 20,130 shares during the quarter. New York State Common Retirement Fund owned 0.09% of Biogen worth $17,946,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BIIB. Norges Bank bought a new position in shares of Biogen during the 4th quarter worth $355,569,000. Invesco Ltd. boosted its stake in Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after purchasing an additional 499,074 shares during the period. AQR Capital Management LLC boosted its position in shares of Biogen by 982.0% during the 4th quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company's stock valued at $81,914,000 after acquiring an additional 489,811 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Biogen by 63.7% during the 4th quarter. Deutsche Bank AG now owns 1,169,570 shares of the biotechnology company's stock valued at $178,851,000 after acquiring an additional 455,285 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 33.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company's stock valued at $234,551,000 after acquiring an additional 381,122 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

Biogen Price Performance

NASDAQ BIIB traded down $3.70 during trading on Friday, hitting $124.99. 1,524,813 shares of the stock traded hands, compared to its average volume of 1,449,178. The company has a market capitalization of $18.31 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.03 and a beta of 0.14. The firm has a 50-day simple moving average of $129.18 and a 200-day simple moving average of $133.31. The company has a quick ratio of 1.01, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $236.48.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). The company had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. Biogen had a return on equity of 14.03% and a net margin of 15.07%. Biogen's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.67 EPS. As a group, analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wedbush restated a "neutral" rating and issued a $121.00 price objective on shares of Biogen in a report on Thursday, June 12th. Canaccord Genuity Group lowered their price objective on shares of Biogen from $265.00 to $220.00 and set a "buy" rating for the company in a report on Friday, May 2nd. HC Wainwright reaffirmed a "buy" rating and issued a $187.00 price target on shares of Biogen in a research note on Thursday, June 26th. Robert W. Baird decreased 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. Finally, Morgan Stanley decreased their price target on Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Biogen has a consensus rating of "Hold" and an average price target of $188.48.

Insiders Place Their Bets

In other Biogen news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the sale, the insider directly owned 6,330 shares of the company's stock, valued at $854,550. The trade was a 25.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.