New Mexico Educational Retirement Board lessened its holdings in Biogen Inc (NASDAQ:BIIB) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,774 shares of the biotechnology company’s stock after selling 400 shares during the period. New Mexico Educational Retirement Board’s holdings in Biogen were worth $3,965,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of BIIB. Northwest Wealth Management LLC raised its holdings in shares of Biogen by 188.9% in the 1st quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 68 shares in the last quarter. Portfolio Solutions LLC acquired a new stake in shares of Biogen in the 4th quarter valued at $26,000. Doyle Wealth Management acquired a new stake in shares of Biogen in the 4th quarter valued at $32,000. Somerset Trust Co raised its holdings in shares of Biogen by 150.0% in the 1st quarter. Somerset Trust Co now owns 140 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. Finally, IMS Capital Management acquired a new stake in shares of Biogen in the 3rd quarter valued at $38,000. 89.19% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on BIIB. Oppenheimer set a $372.00 price objective on shares of Biogen and gave the company a “buy” rating in a report on Friday, January 25th. Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and reduced their price objective for the company from $397.00 to $346.00 in a report on Thursday, February 21st. Citigroup lifted their price target on shares of Biogen from $372.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 30th. Leerink Swann lifted their price target on shares of Biogen from $328.00 to $341.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 30th. Finally, Mizuho set a $427.00 price target on shares of Biogen and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have given a buy rating to the company. Biogen presently has a consensus rating of “Hold” and a consensus price target of $295.04.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, January 29th. The biotechnology company reported $6.99 EPS for the quarter, beating analysts’ consensus estimates of $6.72 by $0.27. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.39 billion. Biogen had a net margin of 32.94% and a return on equity of 40.53%. Biogen’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $5.26 earnings per share. Equities analysts anticipate that Biogen Inc will post 28.88 earnings per share for the current year.
In other news, Director Robert W. Pangia sold 6,114 shares of Biogen stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $328.55, for a total value of $2,008,754.70. Following the sale, the director now owns 24,701 shares of the company’s stock, valued at $8,115,513.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexander J. Denner bought 7,000 shares of the stock in a transaction dated Friday, February 1st. The stock was purchased at an average cost of $328.45 per share, for a total transaction of $2,299,150.00. Following the acquisition, the director now owns 10,909 shares of the company’s stock, valued at $3,583,061.05. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.
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Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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