Biogen Inc. $BIIB Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,903 shares of the biotechnology company’s stock after buying an additional 10,097 shares during the period. California Public Employees Retirement System’s holdings in Biogen were worth $62,498,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Biogen during the fourth quarter valued at $464,408,000. Boston Partners bought a new position in shares of Biogen during the fourth quarter worth about $302,815,000. Fred Alger Management LLC increased its holdings in shares of Biogen by 39,074.8% in the 4th quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock worth $140,576,000 after acquiring an additional 796,735 shares during the period. Employees Provident Fund Board acquired a new stake in shares of Biogen in the 4th quarter worth about $123,931,000. Finally, Orion Porfolio Solutions LLC lifted its position in Biogen by 6,828.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock valued at $64,965,000 after purchasing an additional 509,809 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Rothschild & Co Redburn boosted their target price on shares of Biogen from $180.00 to $190.00 in a research note on Thursday, April 30th. Citigroup raised their price target on shares of Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Wedbush reaffirmed a “neutral” rating and set a $201.00 price target on shares of Biogen in a report on Monday, July 13th. Mizuho reduced their price objective on Biogen from $236.00 to $221.00 and set an “outperform” rating for the company in a research report on Monday, June 15th. Finally, Freedom Capital raised Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.04.

Biogen Stock Performance

Shares of BIIB opened at $205.99 on Monday. The firm has a 50-day moving average price of $199.43 and a 200 day moving average price of $189.09. The firm has a market capitalization of $30.41 billion, a PE ratio of 22.10 and a beta of 0.16. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 52-week low of $121.05 and a 52-week high of $219.72.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the company earned $3.02 EPS. Biogen’s quarterly revenue was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, sell-side analysts anticipate that Biogen Inc. will post 13.45 earnings per share for the current fiscal year.

Biogen Profile

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.