Thrivent Financial for Lutherans Raises Position in Biogen Inc. $BIIB

Thrivent Financial for Lutherans grew its position in shares of Biogen Inc. (NASDAQ:BIIB) by 24.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,195 shares of the biotechnology company’s stock after buying an additional 3,544 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Biogen were worth $2,285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BIIB. Generali Investments CEE investicni spolecnost a.s. boosted its position in shares of Biogen by 43.2% during 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 buying an additional 11,695 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in Biogen in the 2nd quarter worth about $225,000. Privium Fund Management B.V. bought a new position in Biogen during the 2nd quarter valued at about $2,666,000. Nordea Investment Management AB boosted its holdings in shares of Biogen by 5.7% during the 2nd quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock valued at $15,810,000 after acquiring an additional 6,811 shares during the last quarter. Finally, Pitcairn Co. bought a new stake in shares of Biogen in the second quarter worth approximately $936,000. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BIIB shares. Piper Sandler restated a “neutral” rating and set a $157.00 price objective (up previously from $118.00) on shares of Biogen in a research report on Friday, November 21st. William Blair reissued an “outperform” rating on shares of Biogen in a report on Wednesday, September 24th. Mizuho raised their price target on Biogen from $169.00 to $177.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Jefferies Financial Group upped their price objective on Biogen from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 28th. Finally, Sanford C. Bernstein increased their target price on Biogen from $155.00 to $157.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Ten research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Biogen currently has a consensus rating of “Hold” and a consensus price target of $183.08.

Biogen Price Performance

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

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

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.