Retirement Systems of Alabama Decreases Position in Biogen Inc (BIIB)
Retirement Systems of Alabama lessened its stake in shares of Biogen Inc (NASDAQ:BIIB) by 29.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,896 shares of the biotechnology company’s stock after selling 39,500 shares during the quarter. Retirement Systems of Alabama’s holdings in Biogen were worth $27,954,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. IMS Capital Management purchased a new stake in shares of Biogen during the third quarter valued at $38,000. Moody National Bank Trust Division purchased a new position in shares of Biogen during the 4th quarter valued at approximately $41,000. Csenge Advisory Group acquired a new stake in shares of Biogen in the 3rd quarter worth $95,000. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Biogen in the 3rd quarter worth $103,000. Finally, LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Biogen during the 3rd quarter worth $107,000. 86.78% of the stock is currently owned by institutional investors.
Several research firms have commented on BIIB. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of Biogen in a research report on Monday, October 1st. Citigroup dropped their price target on Biogen from $483.00 to $470.00 and set a “buy” rating for the company in a research note on Monday, October 8th. Raymond James set a $400.00 price target on Biogen and gave the company a “buy” rating in a report on Tuesday, October 23rd. Oppenheimer set a $400.00 target price on Biogen and gave the stock a “buy” rating in a report on Sunday, September 16th. Finally, Royal Bank of Canada lowered their target price on Biogen to $338.00 and set a “sector perform” rating on the stock in a research report on Monday, November 26th. Eight equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $381.86.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.78 by $0.62. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the business posted $6.31 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that Biogen Inc will post 25.84 earnings per share for the current year.
Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
See Also: Earnings Per Share
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.