New York State Teachers Retirement System Has $13.90 Million Stock Holdings in Biogen Inc. $BIIB

Key Points

• The New York State Teachers Retirement System increased its holdings in Biogen Inc. by 2.8%, owning 110,649 shares worth approximately $13.90 million as of the latest SEC filing.
• Institutional investors collectively own 87.93% of Biogen's stock, indicating strong institutional support for the company.
• Research analysts have mixed ratings on Biogen, with a consensus of “Hold” and an average target price of $180.69, reflecting cautious optimism about the company's future performance.

New York State Teachers Retirement System raised its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,649 shares of the biotechnology company's stock after buying an additional 2,973 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Biogen worth $13,896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital grew its holdings in Biogen by 3.8% in the 2nd quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company's stock valued at $291,000 after buying an additional 81 shares in the last quarter. Private Trust Co. NA raised its stake in Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Biogen by 21.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 617 shares of the biotechnology company's stock valued at $77,000 after purchasing an additional 107 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Biogen by 0.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,598 shares of the biotechnology company's stock valued at $1,724,000 after purchasing an additional 110 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its stake in Biogen by 5.4% in the second quarter. Capital Investment Advisors LLC now owns 2,164 shares of the biotechnology company's stock valued at $272,000 after purchasing an additional 111 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Priya Singhal sold 517 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider owned 5,772 shares of the company's stock, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BIIB shares. William Blair reaffirmed an "outperform" rating on shares of Biogen in a research note on Wednesday, September 24th. Royal Bank Of Canada dropped their price objective on Biogen from $219.00 to $217.00 and set an "outperform" rating for the company in a research report on Wednesday, October 8th. Morgan Stanley upped their price objective on Biogen from $144.00 to $149.00 and gave the stock an "equal weight" rating in a research report on Friday, October 10th. Wall Street Zen upgraded Biogen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 28th. Finally, Piper Sandler upped their price objective on Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a research report on Friday, September 12th. Eleven investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $180.69.

Biogen Trading Up 0.5%

Shares of BIIB stock opened at $143.00 on Friday. The stock has a market cap of $20.97 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.13 and a beta of 0.13. The stock has a 50-day moving average of $141.53 and a 200-day moving average of $131.43. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $191.19.

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

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.

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