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

Key Points

• California Public Employees Retirement System increased its Biogen stake by 3.1% in the first quarter, adding 10,097 shares to bring its total to 340,903 shares valued at about $62.5 million.
• Biogen reported better-than-expected quarterly results, with EPS of $3.57 versus $2.95 expected and revenue of $2.48 billion versus $2.29 billion expected. The company also raised FY 2026 guidance to $14.25-$15.25 EPS.
• Wall Street sentiment is mixed but generally constructive: Biogen has a Moderate Buy consensus rating and an average price target of $220.04, though recent analyst actions included both upgrades and a downgrade.

California Public Employees Retirement System raised its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 owned approximately 0.23% of Biogen worth $62,498,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in shares of Biogen by 1,793.8% during the 4th quarter. SG Americas Securities LLC now owns 183,829 shares of the biotechnology company's stock valued at $32,352,000 after buying an additional 174,122 shares during the last quarter. LSV Asset Management increased its stake in shares of Biogen by 3.3% in the fourth quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company's stock worth $55,756,000 after buying an additional 9,976 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in shares of Biogen in the fourth quarter worth $2,006,000. Systematic Financial Management LP raised its holdings in Biogen by 256.3% in the fourth quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company's stock valued at $2,928,000 after acquiring an additional 11,970 shares in the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new stake in Biogen in the fourth quarter valued at $11,431,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

BIIB stock opened at $205.99 on Monday. The firm has a market cap of $30.41 billion, a price-to-earnings ratio of 22.10 and a beta of 0.16. Biogen Inc. has a 1-year low of $121.05 and a 1-year high of $219.72. The firm has a fifty day moving average price of $199.43 and a two-hundred day moving average price of $189.09. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the firm posted $3.02 EPS. The company's revenue for the quarter was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Research analysts predict that Biogen Inc. will post 13.45 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Biogen from $175.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. Cantor Fitzgerald restated an "overweight" rating on shares of Biogen in a research note on Monday, June 22nd. Truist Financial upgraded shares of Biogen from a "hold" rating to a "buy" rating and upped their target price for the company from $190.00 to $235.00 in a research note on Monday, July 13th. Evercore began coverage on shares of Biogen in a research report on Friday, May 15th. They set an "outperform" rating on the stock. Finally, Zacks Research downgraded Biogen from a "hold" rating to a "strong sell" rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $220.04.

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.

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