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

Public Employees Retirement System of Ohio increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,355 shares of the biotechnology company’s stock after buying an additional 492 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Biogen were worth $5,696,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Biogen by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock worth $2,330,774,000 after purchasing an additional 283,964 shares during the period. Invesco Ltd. lifted its position in Biogen by 6.4% in the first quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company’s stock valued at $309,944,000 after buying an additional 136,200 shares during the last quarter. AQR Capital Management LLC lifted its position in Biogen by 153.6% in the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after buying an additional 829,150 shares during the last quarter. Amundi boosted its stake in Biogen by 8.1% during the first quarter. Amundi now owns 1,315,947 shares of the biotechnology company’s stock worth $172,007,000 after buying an additional 98,957 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Biogen by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company’s stock valued at $139,470,000 after acquiring an additional 47,956 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on BIIB. Wall Street Zen upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a report on Sunday. Jefferies Financial Group initiated coverage on Biogen in a research report on Thursday. They issued a “buy” rating and a $190.00 target price on the stock. Wedbush restated a “neutral” rating and set a $121.00 price target on shares of Biogen in a research report on Thursday, June 12th. Royal Bank Of Canada lifted their price objective on Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, HC Wainwright boosted their price objective on Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a report on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $182.04.

Biogen Stock Performance

NASDAQ:BIIB opened at $137.37 on Monday. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $197.70. The company has a fifty day simple moving average of $135.97 and a two-hundred day simple moving average of $130.47. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The company has a market cap of $20.14 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 1.08 and a beta of 0.11.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the business posted $5.28 earnings per share. Biogen’s revenue was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the sale, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. This represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Priya Singhal sold 517 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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.