Teacher Retirement System of Texas boosted its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 29.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 106,727 shares of the biotechnology company’s stock after purchasing an additional 24,093 shares during the quarter. Teacher Retirement System of Texas’ holdings in Biogen were worth $25,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in Biogen by 0.4% in the 4th quarter. BlackRock Inc. now owns 16,568,963 shares of the biotechnology company’s stock valued at $4,985,931,000 after acquiring an additional 70,603 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Biogen by 27,620.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 14,257,427 shares in the last quarter. Northern Trust Corp raised its holdings in Biogen by 4.8% in the 4th quarter. Northern Trust Corp now owns 2,907,306 shares of the biotechnology company’s stock valued at $874,867,000 after acquiring an additional 133,137 shares in the last quarter. Geode Capital Management LLC raised its holdings in Biogen by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 2,713,577 shares of the biotechnology company’s stock valued at $815,190,000 after acquiring an additional 144,464 shares in the last quarter. Finally, Norges Bank acquired a new position in Biogen in the 4th quarter valued at approximately $644,940,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

In other Biogen news, Director Alexander J. Denner purchased 118,342 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $229.94 per share, with a total value of $27,211,559.48. Following the acquisition, the director now directly owns 10,909 shares of the company’s stock, valued at approximately $2,508,415.46. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Pangia sold 6,114 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $328.55, for a total value of $2,008,754.70. Following the sale, the director now directly owns 24,701 shares of the company’s stock, valued at $8,115,513.55. The disclosure for this sale can be found here. Insiders have purchased a total of 173,035 shares of company stock valued at $39,759,632 over the last ninety days. Insiders own 0.29% of the company’s stock.

Several equities analysts have commented on BIIB shares. Oppenheimer set a $372.00 price target on Biogen and gave the company a “buy” rating in a report on Friday, January 25th. Stifel Nicolaus upped their price target on Biogen from $392.00 to $397.00 and gave the company a “buy” rating in a report on Tuesday, January 29th. Mizuho set a $427.00 price target on Biogen and gave the company a “buy” rating in a report on Tuesday, January 29th. Leerink Swann upped their price target on Biogen from $328.00 to $341.00 and gave the company a “market perform” rating in a report on Wednesday, January 30th. Finally, Citigroup upped their price target on Biogen from $372.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, January 30th. Two research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $288.96.

Shares of BIIB opened at $228.00 on Wednesday. Biogen Inc has a 1 year low of $216.12 and a 1 year high of $388.67. The company has a quick ratio of 2.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $43.75 billion, a PE ratio of 8.70, a P/E/G ratio of 0.89 and a beta of 1.01.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $6.88 by $0.10. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the firm posted $6.05 EPS. The business’s revenue was up 11.5% on a year-over-year basis. As a group, equities research analysts expect that Biogen Inc will post 29.58 earnings per share for the current year.

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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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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