New York State Teachers Retirement System Sells 6,673 Shares of Biogen Inc. (NASDAQ:BIIB)

New York State Teachers Retirement System lowered its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 5.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 111,128 shares of the biotechnology company’s stock after selling 6,673 shares during the period. New York State Teachers Retirement System owned 0.08% of Biogen worth $16,994,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIIB. Ashton Thomas Securities LLC bought a new position in Biogen during the third quarter worth about $33,000. Golden State Wealth Management LLC bought a new position in Biogen during the fourth quarter worth about $41,000. Venturi Wealth Management LLC grew its holdings in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. grew its holdings in Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares during the period. Finally, Quent Capital LLC grew its holdings in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB opened at $137.33 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock has a 50-day moving average of $146.90 and a 200-day moving average of $172.99. The company has a market cap of $20.01 billion, a PE ratio of 12.41, a P/E/G ratio of 1.65 and a beta of -0.08. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. On average, equities research analysts predict that Biogen Inc. will post 16.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BIIB shares. Canaccord Genuity Group reduced their price objective on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a report on Monday, December 16th. Scotiabank reduced their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday. The Goldman Sachs Group reduced their price objective on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a report on Thursday. Finally, BMO Capital Markets dropped their price target on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research report on Thursday. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $211.96.

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.