Teacher Retirement System of Texas Acquires 12,765 Shares of Biogen Inc. (NASDAQ:BIIB)

Teacher Retirement System of Texas raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 32.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,157 shares of the biotechnology company’s stock after acquiring an additional 12,765 shares during the quarter. Teacher Retirement System of Texas’ holdings in Biogen were worth $7,976,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. OFI Invest Asset Management bought a new position in Biogen in the 4th quarter valued at $32,000. SRS Capital Advisors Inc. bought a new position in Biogen in the 4th quarter valued at $33,000. Golden State Wealth Management LLC bought a new position in Biogen in the 4th quarter valued at $41,000. Finally, Itau Unibanco Holding S.A. grew its position in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.3 %

Shares of NASDAQ:BIIB opened at $140.90 on Friday. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.51 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $142.16 and a 200-day moving average price of $162.11.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Equities analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BIIB. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Piper Sandler reissued a “neutral” rating and set a $135.00 price target (down previously from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Truist Financial dropped their price target on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Citigroup dropped their price target on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Biogen currently has an average rating of “Hold” and an average price target of $213.33.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

About Biogen

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.