New Mexico Educational Retirement Board lowered its position in shares of Biogen Inc (NASDAQ:BIIB) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,074 shares of the biotechnology company’s stock after selling 700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Biogen were worth $3,759,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Trustcore Financial Services LLC raised its stake in shares of Biogen by 152.3% during the 2nd quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 67 shares in the last quarter. Resources Investment Advisors Inc. raised its stake in shares of Biogen by 500.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Weaver Consulting Group bought a new stake in shares of Biogen during the 1st quarter worth approximately $28,000. Private Ocean LLC bought a new stake in Biogen in the 1st quarter valued at $31,000. Finally, Ruggie Capital Group bought a new stake in Biogen in the 2nd quarter valued at $33,000. 90.77% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on BIIB shares. Credit Suisse Group started coverage on Biogen in a research note on Monday, May 20th. They issued an “underperform” rating and a $198.00 price target on the stock. Citigroup restated a “neutral” rating on shares of Biogen in a research note on Thursday, May 23rd. Cowen restated a “buy” rating and issued a $275.00 price target on shares of Biogen in a research note on Tuesday, July 30th. Oppenheimer set a $290.00 price target on Biogen and gave the company a “buy” rating in a research note on Sunday, May 5th. Finally, Standpoint Research raised Biogen from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Four analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $269.74.
NASDAQ:BIIB traded down $1.58 during trading hours on Thursday, hitting $231.60. The company’s stock had a trading volume of 11,710 shares, compared to its average volume of 1,347,337. The stock has a fifty day simple moving average of $234.88 and a 200-day simple moving average of $253.72. The company has a market capitalization of $43.48 billion, a P/E ratio of 8.81, a PEG ratio of 0.86 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.46 and a quick ratio of 2.22. Biogen Inc has a twelve month low of $216.12 and a twelve month high of $358.41.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $7.58 by $1.57. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.48 billion. Biogen had a return on equity of 44.89% and a net margin of 37.62%. Biogen’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $5.80 earnings per share. On average, equities analysts predict that Biogen Inc will post 32.41 EPS for the current fiscal year.
Biogen Company Profile
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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