Public Employees Retirement System of Ohio Purchases New Position in Biogen Inc. $BIIB

Key Points

• Public Employees Retirement System of Ohio bought 45,608 Biogen shares worth approximately $9.85 million during the second quarter. Institutional investors collectively own 87.93% of Biogen’s stock.
• Analysts maintain a generally positive outlook, with Biogen receiving a consensus rating of “Moderate Buy” and an average price target of $227.79.
• Biogen beat quarterly expectations, reporting $3.60 in earnings per share versus the $2.94 estimate and revenue of $2.74 billion versus $2.46 billion expected. Quarterly revenue increased 3.4% year over year.

Public Employees Retirement System of Ohio purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 45,608 shares of the biotechnology company's stock, valued at approximately $9,854,000.

A number of other institutional investors also recently modified their holdings of BIIB. BlackRock Inc. bought a new stake in shares of Biogen in the second quarter valued at approximately $3,453,878,000. Orbimed Advisors LLC bought a new position in Biogen during the 1st quarter worth $11,293,000. LSV Asset Management increased its stake in Biogen by 3.3% during the 4th quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company's stock worth $55,756,000 after acquiring an additional 9,976 shares during the period. Catalyst Funds Management Pty Ltd acquired a new position in Biogen in the 4th quarter valued at $2,006,000. Finally, Systematic Financial Management LP lifted its position in shares of Biogen by 256.3% during the 4th quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company's stock valued at $2,928,000 after acquiring an additional 11,970 shares during the period. Institutional investors own 87.93% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BIIB. Needham & Company LLC increased their target price on Biogen from $255.00 to $256.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Biogen in a research note on Monday, July 13th. HSBC reiterated a "reduce" rating and set a $157.00 price objective on shares of Biogen in a research note on Monday, July 6th. Morgan Stanley raised their target price on shares of Biogen from $222.00 to $231.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Finally, Bank of America dropped their target price on shares of Biogen from $217.00 to $215.00 and set a "neutral" rating for the company in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Biogen has a consensus rating of "Moderate Buy" and an average target price of $227.79.

Biogen Trading Down 0.8%

BIIB opened at $216.65 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. Biogen Inc. has a fifty-two week low of $131.52 and a fifty-two week high of $222.85. The firm has a market capitalization of $32.01 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 6.81 and a beta of 0.17. The company's 50 day moving average price is $208.15 and its two-hundred day moving average price is $195.89.

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

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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