Retirement Systems of Alabama Purchases 154,062 Shares of Biogen Inc. (NASDAQ:BIIB)

Retirement Systems of Alabama grew its stake in Biogen Inc. (NASDAQ:BIIB) by 491.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,383 shares of the biotechnology company’s stock after purchasing an additional 154,062 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of Biogen worth $28,349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Old North State Wealth Management LLC increased its holdings in Biogen by 14.3% in the fourth quarter. Old North State Wealth Management LLC now owns 15,467 shares of the biotechnology company’s stock valued at $2,365,000 after purchasing an additional 1,934 shares during the last quarter. ARGA Investment Management LP lifted its position in Biogen by 34.7% during the 4th quarter. ARGA Investment Management LP now owns 3,532 shares of the biotechnology company’s stock worth $540,000 after buying an additional 910 shares in the last quarter. E. Ohman J or Asset Management AB boosted its position in Biogen by 14.3% during the fourth quarter. E. Ohman J or Asset Management AB now owns 6,399 shares of the biotechnology company’s stock valued at $979,000 after purchasing an additional 800 shares during the last quarter. Mather Group LLC. raised its position in Biogen by 476.0% during the fourth quarter. Mather Group LLC. now owns 1,728 shares of the biotechnology company’s stock worth $264,000 after acquiring an additional 1,428 shares in the last quarter. Finally, Greenleaf Trust raised its stake in Biogen by 94.4% in the fourth quarter. Greenleaf Trust now owns 5,065 shares of the biotechnology company’s stock valued at $775,000 after buying an additional 2,459 shares during the period. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BIIB shares. William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. BMO Capital Markets lowered shares of Biogen from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $230.00 to $164.00 in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Truist Financial cut their price objective on Biogen from $302.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Needham & Company LLC downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a research report on Monday, November 18th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Biogen presently has a consensus rating of “Hold” and an average target price of $228.80.

Biogen Trading Up 2.1 %

Shares of BIIB opened at $145.53 on Thursday. Biogen Inc. has a fifty-two week low of $139.71 and a fifty-two week high of $246.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The company’s fifty day moving average is $150.16 and its 200 day moving average is $177.18. The stock has a market capitalization of $21.21 billion, a PE ratio of 13.15, a P/E/G ratio of 1.66 and a beta of -0.08.

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.