Teachers Advisors LLC grew its stake in shares of Biogen Inc (NASDAQ:BIIB) by 23.7% in the fourth quarter, Holdings Channel reports. The fund owned 432,572 shares of the biotechnology company’s stock after buying an additional 82,966 shares during the quarter. Teachers Advisors LLC’s holdings in Biogen were worth $137,804,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in BIIB. Captrust Financial Advisors purchased a new stake in shares of Biogen in the fourth quarter valued at $113,000. Prentiss Smith & Co. Inc. purchased a new stake in shares of Biogen in the fourth quarter valued at $123,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Biogen by 77.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 174 shares in the last quarter. Horan Capital Advisors LLC. purchased a new stake in shares of Biogen in the third quarter valued at $128,000. Finally, Massey Quick Simon & CO. LLC lifted its holdings in shares of Biogen by 84.8% in the third quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 195 shares in the last quarter. Institutional investors own 88.96% of the company’s stock.
Biogen Inc (BIIB) opened at $279.90 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47. The company has a market cap of $60,528.09, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.57 and a beta of 0.90. Biogen Inc has a 1 year low of $244.28 and a 1 year high of $370.57.
A number of analysts have recently issued reports on the company. Mizuho set a $433.00 target price on Biogen and gave the company a “buy” rating in a report on Monday. Guggenheim set a $400.00 target price on Biogen and gave the company a “buy” rating in a report on Friday, March 2nd. BMO Capital Markets reduced their target price on Biogen from $403.00 to $393.00 and set an “outperform” rating for the company in a report on Friday, March 2nd. Canaccord Genuity set a $350.00 target price on Biogen and gave the company a “hold” rating in a report on Tuesday, January 16th. Finally, Credit Suisse Group restated a “buy” rating and issued a $384.00 target price on shares of Biogen in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $370.07.
In other Biogen news, EVP Alfred Sandrock sold 259 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $290.83, for a total transaction of $75,324.97. Following the transaction, the executive vice president now directly owns 6,553 shares of the company’s stock, valued at $1,905,808.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Pangia sold 5,832 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the transaction, the director now directly owns 23,539 shares in the company, valued at $7,759,631.35. The disclosure for this sale can be found here. Insiders have sold 8,128 shares of company stock worth $2,601,512 over the last three months. Company insiders own 0.25% of the company’s stock.
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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