20,300 Shares in Biogen Inc. (NASDAQ:BIIB) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,300 shares of the biotechnology company's stock, valued at approximately $5,253,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Altshuler Shaham Ltd bought a new position in Biogen in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management bought a new position in Biogen in the third quarter valued at approximately $26,000. Gladius Capital Management LP bought a new position in Biogen in the third quarter valued at approximately $28,000. KB Financial Partners LLC increased its stake in Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 62 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in Biogen in the fourth quarter valued at approximately $36,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Down 2.7 %

BIIB stock traded down $5.50 during midday trading on Friday, hitting $198.18. The stock had a trading volume of 1,245,896 shares, compared to its average volume of 1,117,007. The business has a fifty day moving average price of $220.04 and a two-hundred day moving average price of $237.74. Biogen Inc. has a 1-year low of $197.78 and a 1-year high of $319.76. The firm has a market cap of $28.81 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 1.66 and a beta of -0.02. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing analysts' consensus estimates of $3.18 by ($0.23). The business had revenue of $2.39 billion for the quarter, compared to analysts' expectations of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same quarter in the previous year, the company posted $4.05 earnings per share. On average, sell-side analysts predict that Biogen Inc. will post 15.45 earnings per share for the current fiscal year.

Insider Activity at Biogen

In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company's stock, valued at approximately $4,590,777.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Biogen news, insider Priya Singhal sold 262 shares of the firm's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares of the company's stock, valued at approximately $1,080,929.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the business's stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 882 shares of company stock worth $202,030. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of recent analyst reports. Bank Of America (Bofa) decreased their price objective on shares of Biogen from $290.00 to $280.00 and set a "neutral" rating on the stock in a research note on Monday, February 12th. Wells Fargo & Company cut shares of Biogen from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $315.00 to $240.00 in a research note on Wednesday, February 14th. BTIG Research reaffirmed a "neutral" rating on shares of Biogen in a research note on Sunday, January 7th. Robert W. Baird decreased their target price on shares of Biogen from $333.00 to $316.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 14th. Finally, Wedbush boosted their target price on shares of Biogen from $239.00 to $245.00 and gave the stock a "neutral" rating in a research note on Monday, February 12th. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $298.96.

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.