Biogen Inc. $BIIB Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its position in Biogen Inc. (NASDAQ:BIIB) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,107 shares of the biotechnology company’s stock after acquiring an additional 1,745 shares during the period. Public Sector Pension Investment Board’s holdings in Biogen were worth $2,751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in Biogen by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock valued at $57,057,000 after buying an additional 25,464 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Biogen by 5.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock valued at $8,405,000 after buying an additional 3,194 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Biogen by 3.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company’s stock valued at $6,130,000 after buying an additional 1,336 shares during the last quarter. Motley Fool Asset Management LLC grew its holdings in Biogen by 64.7% during the 1st quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock valued at $932,000 after buying an additional 2,676 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. acquired a new stake in Biogen during the 1st quarter valued at $382,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Up 2.2%

Shares of BIIB opened at $138.86 on Wednesday. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $20.36 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 1.07 and a beta of 0.13. The stock’s fifty day simple moving average is $130.24 and its 200 day simple moving average is $130.84. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $207.59.

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

Insider Buying and Selling at Biogen

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the transaction, the insider directly owned 6,330 shares of the company’s stock, valued at $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BIIB shares. Truist Financial started coverage on Biogen in a report on Monday, July 21st. They set a “hold” rating and a $142.00 target price on the stock. Mizuho lowered their target price on Biogen from $207.00 to $169.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. HC Wainwright raised their price objective on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Robert W. Baird decreased their price objective on Biogen from $300.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Biogen from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Eleven analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $185.74.

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.