Texas Permanent School Fund Corp Sells 5,474 Shares of Biogen Inc. $BIIB

Texas Permanent School Fund Corp lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 35.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,121 shares of the biotechnology company’s stock after selling 5,474 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Biogen were worth $1,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. Elevation Point Wealth Partners LLC acquired a new position in Biogen in the second quarter valued at about $25,000. Rothschild Investment LLC lifted its holdings in shares of Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 88 shares in the last quarter. Concord Wealth Partners lifted its holdings in shares of Biogen by 100.0% during the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 114 shares in the last quarter. NewSquare Capital LLC grew its position in shares of Biogen by 134.6% in the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 140 shares during the period. Finally, WFA of San Diego LLC bought a new stake in Biogen during the 2nd quarter worth approximately $32,000. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BIIB shares. Tudor Pickering set a $157.00 price target on shares of Biogen in a research note on Monday, November 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Wednesday, September 24th. Mizuho upped their target price on shares of Biogen from $169.00 to $177.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Wedbush lifted their price target on Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Biogen in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $183.08.

Biogen Stock Up 0.1%

Biogen stock opened at $174.82 on Wednesday. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $185.17. The company has a fifty day simple moving average of $164.84 and a 200 day simple moving average of $145.99. The company has a market cap of $25.65 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.47 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.