Louisiana State Employees Retirement System Sells 400 Shares of Biogen Inc (BIIB)

Louisiana State Employees Retirement System reduced its stake in shares of Biogen Inc (NASDAQ:BIIB) by 3.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,800 shares of the biotechnology company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Biogen were worth $4,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. LSV Asset Management boosted its position in Biogen by 1,196.3% during the 2nd quarter. LSV Asset Management now owns 445,539 shares of the biotechnology company’s stock worth $120,901,000 after acquiring an additional 411,170 shares during the period. Provident Investment Management Inc. boosted its position in Biogen by 1.6% during the 2nd quarter. Provident Investment Management Inc. now owns 66,356 shares of the biotechnology company’s stock worth $18,006,000 after acquiring an additional 1,044 shares during the period. Bienville Capital Management LLC boosted its position in Biogen by 2.2% during the 2nd quarter. Bienville Capital Management LLC now owns 880 shares of the biotechnology company’s stock worth $239,000 after acquiring an additional 19 shares during the period. Schroder Investment Management Group boosted its position in Biogen by 38.5% during the 2nd quarter. Schroder Investment Management Group now owns 305,970 shares of the biotechnology company’s stock worth $83,187,000 after acquiring an additional 84,981 shares during the period. Finally, Commonwealth Bank of Australia boosted its position in Biogen by 41.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 19,576 shares of the biotechnology company’s stock worth $5,311,000 after acquiring an additional 5,758 shares during the period. Hedge funds and other institutional investors own 88.14% of the company’s stock.

A number of research analysts have issued reports on the company. Oppenheimer set a $380.00 price target on Biogen and gave the stock a “buy” rating in a research report on Monday. Citigroup restated an “outperform” rating and issued a $380.00 price objective (up previously from $350.00) on shares of Biogen in a report on Tuesday. Canaccord Genuity set a $340.00 price objective on Biogen and gave the company a “hold” rating in a report on Friday, January 5th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Finally, Mizuho set a $400.00 price objective on Biogen and gave the company a “buy” rating in a report on Friday, January 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Biogen currently has a consensus rating of “Buy” and an average target price of $353.41.

In other Biogen news, CEO Michel Vounatsos purchased 780 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The shares were purchased at an average cost of $320.55 per share, with a total value of $250,029.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander J. Denner purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the transaction, the director now directly owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 31,560 shares of company stock valued at $10,020,858. 0.25% of the stock is currently owned by company insiders.

Shares of Biogen Inc (NASDAQ:BIIB) traded up $2.88 during midday trading on Tuesday, hitting $335.95. The stock had a trading volume of 885,500 shares, compared to its average volume of 1,180,400. Biogen Inc has a twelve month low of $244.28 and a twelve month high of $348.84. The stock has a market capitalization of $71,860.00, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 1.93 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the business posted $5.19 earnings per share. Biogen’s revenue was up 4.1% compared to the same quarter last year. research analysts anticipate that Biogen Inc will post 22 earnings per share for the current fiscal year.

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Biogen Profile

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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