Kentucky Retirement Systems Acquires 10,331 Shares of Biogen Inc. $BIIB

Key Points

• Kentucky Retirement Systems more than doubled its Biogen holdings in the first quarter, acquiring 10,331 additional shares for a total of 19,502 shares valued at approximately $3.6 million.
• Institutional investors and hedge funds own 87.93% of Biogen’s outstanding stock, while several firms—including Amundi—also increased their positions during the quarter.
• Biogen exceeded quarterly expectations with $2.74 billion in revenue and adjusted EPS of $3.60, though GAAP profitability declined sharply. The company expects fiscal 2026 EPS of $12–$13, and analysts maintain a “Moderate Buy” consensus with an average price target of $223.36.

Kentucky Retirement Systems raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 112.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,502 shares of the biotechnology company's stock after buying an additional 10,331 shares during the period. Kentucky Retirement Systems' holdings in Biogen were worth $3,575,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BIIB. Bull Harbor Capital LLC purchased a new stake in shares of Biogen in the 1st quarter worth $931,000. Arkadios Wealth Advisors lifted its position in Biogen by 4.5% during the first quarter. Arkadios Wealth Advisors now owns 4,781 shares of the biotechnology company's stock valued at $877,000 after purchasing an additional 206 shares in the last quarter. Encore Global Management LP purchased a new position in Biogen during the first quarter valued at $92,000. Amundi grew its holdings in Biogen by 38.2% during the first quarter. Amundi now owns 790,827 shares of the biotechnology company's stock valued at $144,982,000 after purchasing an additional 218,398 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Biogen by 32.5% during the first quarter. EverSource Wealth Advisors LLC now owns 3,178 shares of the biotechnology company's stock valued at $583,000 after purchasing an additional 780 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Stock Performance

NASDAQ:BIIB opened at $207.93 on Friday. The company has a current ratio of 1.87, a quick ratio of 2.41 and a debt-to-equity ratio of 0.39. Biogen Inc. has a 12-month low of $124.56 and a 12-month high of $219.72. The stock has a 50-day moving average price of $201.05 and a 200 day moving average price of $190.52. The stock has a market capitalization of $30.70 billion, a P/E ratio of 36.80 and a beta of 0.16.

Biogen (NASDAQ:BIIB - Get Free Report) last posted 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. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the previous year, the firm earned $5.47 EPS. The firm's revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities research analysts forecast that Biogen Inc. will post 12.38 EPS for the current fiscal year.

More Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Q2 results exceeded expectations: Biogen reported approximately $2.74 billion in revenue, up 3.4% year over year and above the $2.46 billion consensus estimate. Adjusted EPS of $3.60 also topped forecasts near $2.94, supported by stronger rare-disease and newer-product sales. Biogen beats quarterly estimates as newer drugs fuel growth
• Positive Sentiment: Growth portfolio is offsetting legacy weakness: Revenue from Biogen’s Growth Portfolio rose 24% to about $1.06 billion, surpassing its legacy multiple sclerosis portfolio. The Apellis acquisition added sales from SYFOVRE and EMPAVELI, while products including SKYCLARYS and ZURZUVAE contributed to momentum. Biogen's Q2 Earnings Beat, New Drugs Drive Sales, 2026 Guidance Raised
• Positive Sentiment: Analyst sentiment improved: TD Cowen raised its price target to $225 and assigned a Buy rating, while Morgan Stanley lifted its target to $231 and maintained Equal Weight. Wedbush also raised its target to $215, and Piper Sandler reaffirmed its Buy rating. Analyst target updates
• Neutral Sentiment: 2026 outlook was updated: Biogen expects full-year non-GAAP EPS of $12 to $13 and mid-single-digit revenue growth. The revenue outlook benefits from the newer portfolio, but the EPS range is below the roughly $13.45 analyst consensus, partly reflecting acquisition-related costs. Biogen beats quarterly estimates as newer drugs fuel growth
• Negative Sentiment: Reported profitability deteriorated materially: GAAP net income fell to $97.5 million from $634.8 million a year earlier, while diluted EPS dropped to $0.66 from $4.33. Legacy multiple sclerosis sales also remained under pressure, and Leqembi sales narrowly missed expectations. Biogen profitability compression

Analyst Ratings Changes

Several research firms have recently commented on BIIB. Guggenheim raised their price objective on Biogen from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price objective on Biogen from $175.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, April 23rd. Piper Sandler reissued an "overweight" rating on shares of Biogen in a report on Tuesday, July 14th. Evercore assumed coverage on shares of Biogen in a research note on Friday, May 15th. They set an "outperform" rating on the stock. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biogen in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $223.36.

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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