California State Teachers Retirement System trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 220,009 shares of the biotechnology company's stock after selling 678 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Biogen worth $47,535,145 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wedmont Private Capital boosted its stake in shares of Biogen by 3.6% in the 2nd quarter. Wedmont Private Capital now owns 3,012 shares of the biotechnology company's stock valued at $600,000 after purchasing an additional 104 shares during the last quarter. HB Wealth Management LLC raised its position in Biogen by 8.7% during the 2nd quarter. HB Wealth Management LLC now owns 6,176 shares of the biotechnology company's stock valued at $1,334,000 after purchasing an additional 495 shares in the last quarter. Saudi Central Bank lifted its stake in Biogen by 89.7% in the second quarter. Saudi Central Bank now owns 10,273 shares of the biotechnology company's stock worth $2,220,000 after acquiring an additional 4,858 shares during the last quarter. Noble Wealth Partners LLC acquired a new stake in shares of Biogen during the second quarter worth $290,000. Finally, Syon Capital LLC boosted its stake in Biogen by 11.6% in the 2nd quarter. Syon Capital LLC now owns 3,492 shares of the biotechnology company's stock worth $754,000 after buying an additional 362 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on BIIB shares. Oppenheimer restated an "outperform" rating and set a $300.00 price target on shares of Biogen in a report on Wednesday, July 29th. HSBC increased their price target on Biogen from $165.00 to $175.00 and gave the stock a "reduce" rating in a report on Thursday, September 10th. Stifel Nicolaus set a $242.00 price target on shares of Biogen in a report on Thursday, September 10th. Jefferies Financial Group reissued a "buy" rating on shares of Biogen in a report on Monday, July 13th. Finally, Wedbush increased their price objective on shares of Biogen from $201.00 to $215.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $230.14.
Check Out Our Latest Report on Biogen
Biogen Stock Down 0.7%
NASDAQ:BIIB traded down $1.45 on Tuesday, hitting $215.91. 318,732 shares of the company's stock traded hands, compared to its average volume of 1,197,421. The company has a market cap of $31.90 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 2.40 and a beta of 0.17. Biogen Inc. has a 1 year low of $135.39 and a 1 year high of $225.80. The firm has a 50-day moving average price of $209.75 and a 200-day moving average price of $197.53. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39.
Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.66. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.Biogen's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities analysts anticipate that Biogen Inc. will post 12.41 EPS for the current fiscal year.
Biogen Company Profile
(
Free Report)
Biogen Inc is a biotechnology company focused on discovering, developing and commercializing therapies for neurological and neurodegenerative diseases. Founded in 1978, the company is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in markets around the world.
Biogen's portfolio includes treatments for multiple sclerosis, including Tecfidera, Vumerity, Tysabri, Avonex and Plegridy, as well as Spinraza for spinal muscular atrophy, developed in collaboration with Ionis Pharmaceuticals.
Further Reading
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