Illinois Municipal Retirement Fund Sells 19,274 Shares of Biogen Inc. (NASDAQ:BIIB)

Illinois Municipal Retirement Fund lowered its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 28.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,117 shares of the biotechnology company's stock after selling 19,274 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Biogen were worth $12,710,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BIIB. International Assets Investment Management LLC boosted its position in Biogen by 119.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,921 shares of the biotechnology company's stock worth $495,000 after acquiring an additional 1,045 shares during the last quarter. AE Wealth Management LLC boosted its holdings in shares of Biogen by 31.4% in the 3rd quarter. AE Wealth Management LLC now owns 1,666 shares of the biotechnology company's stock valued at $428,000 after buying an additional 398 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Biogen by 13.2% in the 3rd quarter. HB Wealth Management LLC now owns 1,660 shares of the biotechnology company's stock valued at $427,000 after buying an additional 194 shares during the last quarter. PFG Advisors boosted its holdings in shares of Biogen by 6.3% in the 3rd quarter. PFG Advisors now owns 985 shares of the biotechnology company's stock valued at $253,000 after buying an additional 58 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of Biogen by 8.5% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,661 shares of the biotechnology company's stock valued at $427,000 after buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent analyst reports. Needham & Company LLC cut their price objective on Biogen from $305.00 to $300.00 and set a "buy" rating for the company in a report on Tuesday, February 13th. UBS Group dropped their price target on Biogen from $250.00 to $214.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 17th. William Blair restated an "outperform" rating on shares of Biogen in a research note on Monday, April 1st. Wedbush dropped their price target on Biogen from $245.00 to $213.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 17th. Finally, HC Wainwright restated a "buy" rating and issued a $325.00 price target on shares of Biogen in a research note on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $295.58.

Biogen Trading Down 0.5 %

Shares of BIIB stock traded down $0.93 during mid-day trading on Tuesday, reaching $193.18. 1,459,784 shares of the stock traded hands, compared to its average volume of 1,165,281. The stock's fifty day simple moving average is $214.22 and its two-hundred day simple moving average is $235.11. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $319.76. The company has a market cap of $28.08 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 1.85 and a beta of -0.02. The company has a quick ratio of 1.26, a current ratio of 2.00 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). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the business posted $4.05 earnings per share. On average, research analysts anticipate that Biogen Inc. will post 15.48 EPS for the current fiscal year.

Insider Activity

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

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.