Illinois Municipal Retirement Fund Grows Stock Holdings in Biogen Inc. $BIIB

Key Points

• Illinois Municipal Retirement Fund increased its Biogen stake by 9.7% in the first quarter, buying 7,905 more shares and bringing its total to 89,303 shares worth about $16.4 million.
• Other institutional investors also raised or initiated positions, and hedge funds and institutions now own 87.93% of Biogen’s stock, underscoring continued institutional interest in the company.
• Analysts remain broadly positive on Biogen despite some target cuts, with an average rating of “Moderate Buy” and an average price target of $220.04; the stock recently traded around $197 after a solid earnings beat in April.

Illinois Municipal Retirement Fund grew its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,303 shares of the biotechnology company's stock after buying an additional 7,905 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Biogen worth $16,372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC boosted its holdings in Biogen by 8.6% during the 1st quarter. Sanctuary Advisors LLC now owns 5,617 shares of the biotechnology company's stock valued at $1,030,000 after acquiring an additional 445 shares during the period. Sigma Planning Corp increased its stake in Biogen by 37.3% during the first quarter. Sigma Planning Corp now owns 7,201 shares of the biotechnology company's stock worth $1,320,000 after purchasing an additional 1,955 shares during the period. Nwam LLC acquired a new stake in shares of Biogen during the first quarter worth about $209,000. Canal Insurance CO acquired a new stake in shares of Biogen during the first quarter worth about $3,667,000. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in shares of Biogen by 26.5% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 3,117 shares of the biotechnology company's stock valued at $571,000 after purchasing an additional 652 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of several recent research reports. Mizuho cut their target price on shares of Biogen from $236.00 to $221.00 and set an "outperform" rating on the stock in a research note on Monday, June 15th. Cantor Fitzgerald reissued an "overweight" rating on shares of Biogen in a research report on Monday, June 22nd. Weiss Ratings upgraded shares of Biogen from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Wedbush reaffirmed a "neutral" rating and set a $201.00 price objective on shares of Biogen in a research report on Monday. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Biogen in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $220.04.

Biogen Stock Up 2.8%

Shares of Biogen stock opened at $197.24 on Thursday. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 52-week low of $121.05 and a 52-week high of $219.72. The company has a market capitalization of $29.12 billion, a P/E ratio of 21.16 and a beta of 0.16. The company has a 50 day moving average of $198.83 and a 200 day moving average of $188.66.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating analysts' consensus estimates of $2.95 by $0.62. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, research analysts forecast that Biogen Inc. will post 13.6 EPS for the current fiscal year.

Biogen News Roundup

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen and Ionis said diranersen produced meaningful reductions in tau biomarkers and showed signs of slowing cognitive decline, supporting the company’s long-term Alzheimer’s pipeline prospects. Article Title
• Positive Sentiment: Biogen received FDA approval for LEQEMBI IQLIK, a weekly at-home initiation dose for early Alzheimer’s patients, which could improve adoption and convenience. Article Title
• Neutral Sentiment: Biogen appointed Michael J. Parini as Chief Legal Officer, effective August 3, a governance update that adds legal and compliance leadership but does not change the core investment story. Article Title
• Negative Sentiment: Investors appear worried that diranersen’s Phase 2 data did not clearly validate the intended dose-response effect, raising execution risk as Biogen considers Phase 3 development. Article Title

Biogen 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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