Thrivent Financial for Lutherans Purchases 3,544 Shares of Biogen Inc. $BIIB

Thrivent Financial for Lutherans increased its position in Biogen Inc. (NASDAQ:BIIB) by 24.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,195 shares of the biotechnology company’s stock after buying an additional 3,544 shares during the period. Thrivent Financial for Lutherans’ holdings in Biogen were worth $2,285,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of BIIB. Generali Investments CEE investicni spolecnost a.s. lifted its position in shares of Biogen by 43.2% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after acquiring an additional 11,695 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in Biogen during the 2nd quarter valued at approximately $225,000. Privium Fund Management B.V. purchased a new position in Biogen in the 2nd quarter worth approximately $2,666,000. Nordea Investment Management AB boosted its stake in Biogen by 5.7% in the 2nd quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock worth $15,810,000 after purchasing an additional 6,811 shares during the period. Finally, Pitcairn Co. purchased a new stake in Biogen during the 2nd quarter valued at approximately $936,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 0.1%

Shares of NASDAQ BIIB opened at $174.82 on Wednesday. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $185.17. The firm’s 50-day moving average price is $164.84 and its 200-day moving average price is $145.99. The stock has a market capitalization of $25.65 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.47 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.92. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Mizuho boosted their target price on shares of Biogen from $169.00 to $177.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Tudor Pickering set a $157.00 price objective on shares of Biogen in a report on Monday, November 3rd. Jefferies Financial Group lifted their target price on Biogen from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 28th. Finally, Wall Street Zen downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Ten analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Biogen has an average rating of “Hold” and an average price target of $183.08.

About Biogen

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.