National Pension Service Acquires 21,398 Shares of Biogen Inc. $BIIB

Key Points

• The National Pension Service has increased its stake in Biogen Inc. by 8.6%, owning approximately 0.19% of the company, valued at $37.15 million.
• Biogen reported a $5.47 EPS for its most recent quarter, exceeding the consensus estimate of $3.93, with a revenue of $2.65 billion, up 7.3% year-over-year.
• Analysts have set a consensus rating of "Hold" for Biogen with an average target price of $185.74, while several firms have adjusted their price targets recently.

National Pension Service lifted its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 8.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 271,483 shares of the biotechnology company's stock after acquiring an additional 21,398 shares during the period. National Pension Service owned 0.19% of Biogen worth $37,150,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BIIB. Russell Investments Group Ltd. increased its position in Biogen by 70.5% in the 1st quarter. Russell Investments Group Ltd. now owns 207,649 shares of the biotechnology company's stock worth $28,438,000 after buying an additional 85,886 shares during the period. Resona Asset Management Co. Ltd. increased its position in Biogen by 4.7% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 46,712 shares of the biotechnology company's stock worth $6,404,000 after buying an additional 2,104 shares during the period. Westpac Banking Corp increased its position in Biogen by 40.6% in the 1st quarter. Westpac Banking Corp now owns 3,635 shares of the biotechnology company's stock worth $497,000 after buying an additional 1,050 shares during the period. HighTower Advisors LLC increased its position in Biogen by 39.5% in the 1st quarter. HighTower Advisors LLC now owns 11,697 shares of the biotechnology company's stock worth $1,601,000 after buying an additional 3,312 shares during the period. Finally, Public Sector Pension Investment Board increased its position in Biogen by 9.5% in the 1st quarter. Public Sector Pension Investment Board now owns 20,107 shares of the biotechnology company's stock worth $2,751,000 after buying an additional 1,745 shares during the period. 87.93% of the stock is owned by institutional investors.

Biogen Price Performance

BIIB stock traded down $0.6850 during trading on Wednesday, hitting $138.1750. The company had a trading volume of 471,403 shares, compared to its average volume of 1,557,890. The company has a fifty day moving average price of $130.24 and a two-hundred day moving average price of $130.84. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The company has a market cap of $20.26 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.07 and a beta of 0.13. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $207.59.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, beating the consensus estimate of $3.93 by $1.54. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.Biogen's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the sale, the insider owned 6,330 shares of the company's stock, valued at $854,550. The trade was a 25.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BIIB has been the topic of several recent analyst reports. Truist Financial started coverage on Biogen in a research report on Monday, July 21st. They issued a "hold" rating and a $142.00 price target on the stock. Oppenheimer set a $205.00 price objective on Biogen in a report on Friday, May 2nd. Morgan Stanley decreased their price objective on Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Piper Sandler lifted their price objective on Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Finally, Royal Bank Of Canada lifted their price objective on Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $185.74.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.