6,103 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,103 shares of the biotechnology company’s stock, valued at approximately $1,579,000.

Several other large investors have also made changes to their positions in BIIB. Harvest Fund Management Co. Ltd increased its stake in Biogen by 11.5% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,290 shares of the biotechnology company’s stock valued at $329,000 after acquiring an additional 133 shares during the period. Yousif Capital Management LLC increased its stake in Biogen by 11.2% during the fourth quarter. Yousif Capital Management LLC now owns 27,201 shares of the biotechnology company’s stock valued at $7,039,000 after acquiring an additional 2,745 shares during the period. GAMMA Investing LLC bought a new position in Biogen during the fourth quarter valued at about $120,000. California Public Employees Retirement System increased its stake in Biogen by 29.2% during the fourth quarter. California Public Employees Retirement System now owns 363,209 shares of the biotechnology company’s stock valued at $93,988,000 after acquiring an additional 82,046 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in Biogen by 7.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 127,488 shares of the biotechnology company’s stock valued at $32,990,000 after acquiring an additional 9,284 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BIIB. BMO Capital Markets lowered their price target on Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $311.00 price objective on shares of Biogen in a research note on Tuesday, February 20th. StockNews.com lowered Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Finally, Barclays lowered their price objective on Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $293.88.

Insider Activity

In other news, insider Priya Singhal sold 262 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Biogen news, Director Eric K. Rowinsky acquired 455 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the sale, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. Insiders have sold a total of 882 shares of company stock valued at $202,030 in the last 90 days. 0.60% of the stock is owned by company insiders.

Biogen Stock Down 0.6 %

NASDAQ:BIIB opened at $201.30 on Friday. The stock’s fifty day moving average price is $212.76 and its two-hundred day moving average price is $234.17. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $319.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.26 and a current ratio of 2.10. The company has a market cap of $29.26 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 1.92 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.40 EPS. On average, analysts anticipate that Biogen Inc. will post 15.48 EPS for the current year.

Biogen Company Profile

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.