Louisiana State Employees Retirement System Buys Shares of 7,500 Biogen Inc. $BIIB

Louisiana State Employees Retirement System purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,500 shares of the biotechnology company’s stock, valued at approximately $1,375,000.

Several other institutional investors have also recently made changes to their positions in the company. Rothschild Investment LLC lifted its holdings in Biogen by 12.3% in the fourth quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock valued at $90,000 after acquiring an additional 56 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake in Biogen by 24.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 66 shares during the last quarter. Advisory Services Network LLC increased its stake in Biogen by 3.9% during the third quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company’s stock worth $251,000 after acquiring an additional 68 shares during the last quarter. Davis Investment Partners LLC lifted its stake in shares of Biogen by 1.7% in the 4th quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 71 shares during the last quarter. Finally, Optas LLC lifted its stake in shares of Biogen by 4.5% in the 4th quarter. Optas LLC now owns 1,706 shares of the biotechnology company’s stock valued at $300,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BIIB shares. Freedom Capital upgraded shares of Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. HC Wainwright reaffirmed a “buy” rating on shares of Biogen in a research note on Thursday, May 14th. Citigroup lifted their price target on shares of Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Biogen in a research note on Monday, June 22nd. Finally, Truist Financial decreased their price objective on shares of Biogen from $193.00 to $189.00 and set a “hold” rating on the stock in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $217.41.

Biogen Trading Up 3.0%

Shares of BIIB stock opened at $216.12 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06. The stock has a market capitalization of $31.91 billion, a P/E ratio of 23.19 and a beta of 0.16. The company has a 50 day moving average price of $196.09 and a 200 day moving average price of $186.83. Biogen Inc. has a fifty-two week low of $121.05 and a fifty-two week high of $219.72.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the business earned $3.02 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Equities research analysts predict that Biogen Inc. will post 13.95 EPS 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.