Biogen Inc. $BIIB Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 6.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 140,245 shares of the biotechnology company’s stock after buying an additional 9,099 shares during the quarter. New York State Common Retirement Fund’s holdings in Biogen were worth $17,613,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Greykasell Wealth Strategies Inc. purchased a new position in Biogen in the first quarter valued at $27,000. Vision Financial Markets LLC purchased a new stake in Biogen during the 1st quarter worth about $27,000. Elevation Point Wealth Partners LLC acquired a new stake in Biogen in the 2nd quarter valued at about $25,000. Zions Bancorporation National Association UT purchased a new position in shares of Biogen in the 1st quarter valued at about $29,000. Finally, Rothschild Investment LLC grew its position in shares of Biogen by 64.7% during the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after buying an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $180.18 on Wednesday. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $185.17. The firm has a market capitalization of $26.43 billion, a P/E ratio of 16.42, a P/E/G ratio of 1.49 and a beta of 0.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04. The company’s fifty day moving average price is $156.12 and its 200 day moving average price is $141.10.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.92. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. Biogen’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Sanford C. Bernstein raised their target price on shares of Biogen from $155.00 to $157.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Citigroup restated a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Guggenheim increased their target price on Biogen from $165.00 to $185.00 in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Biogen in a report on Monday. Ten research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $179.73.

About Biogen

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.