California State Teachers Retirement System Has $10.27 Billion Position in Biogen Inc. $BIIB

California State Teachers Retirement System grew its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 21,439.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,535,145 shares of the biotechnology company's stock after acquiring an additional 47,314,458 shares during the period. California State Teachers Retirement System owned about 32.17% of Biogen worth $10,270,443,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BIIB. Reflection Asset Management acquired a new stake in Biogen during the fourth quarter worth approximately $25,000. Bell Investment Advisors Inc bought a new stake in shares of Biogen during the second quarter worth approximately $27,000. WFA of San Diego LLC acquired a new position in shares of Biogen in the second quarter valued at approximately $32,000. Root Financial Partners LLC grew its position in shares of Biogen by 198.4% in the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 123 shares during the last quarter. Finally, MV Capital Management Inc. bought a new position in shares of Biogen during the fourth quarter worth approximately $34,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIIB has been the subject of several research reports. Oppenheimer reissued an "outperform" rating and set a $300.00 price target on shares of Biogen in a report on Wednesday, July 29th. Truist Financial upgraded Biogen from a "hold" rating to a "buy" rating and increased their price objective for the stock from $190.00 to $235.00 in a research report on Monday, July 13th. Zacks Research upgraded Biogen from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Mizuho lifted their target price on Biogen from $221.00 to $241.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Finally, Wedbush upped their price target on shares of Biogen from $201.00 to $215.00 and gave the company a "neutral" rating in a research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $228.50.

Biogen Stock Performance

NASDAQ:BIIB opened at $212.50 on Wednesday. The company has a market cap of $31.40 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 2.44 and a beta of 0.17. Biogen Inc. has a fifty-two week low of $135.39 and a fifty-two week high of $225.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. The stock has a fifty day moving average price of $209.55 and a 200-day moving average price of $196.93.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts' consensus estimates of $2.94 by $0.66. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.Biogen's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities analysts anticipate that Biogen Inc. will post 12.39 EPS for the current fiscal year.

Biogen Company Profile

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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