45,608 Shares in Biogen Inc. $BIIB Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 45,608 shares of the biotechnology company’s stock, valued at approximately $9,854,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Biogen during the second quarter worth approximately $3,453,878,000. Primecap Management Co. CA bought a new stake in Biogen during the 2nd quarter valued at $3,274,304,000. Geode Capital Management LLC raised its holdings in Biogen by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock worth $736,435,000 after buying an additional 130,618 shares during the last quarter. Norges Bank bought a new position in shares of Biogen in the fourth quarter valued at $464,408,000. Finally, Invesco Ltd. lifted its stake in shares of Biogen by 4.2% in the third quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after buying an additional 98,001 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the subject of several recent research reports. Citigroup boosted their target price on shares of Biogen from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. HSBC reaffirmed a “reduce” rating and issued a $157.00 price target on shares of Biogen in a research report on Monday, July 6th. Oppenheimer reiterated an “outperform” rating and set a $300.00 price target on shares of Biogen in a research note on Wednesday, July 29th. UBS Group increased their price objective on Biogen from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Zacks Research upgraded Biogen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. One equities research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $227.79.

Biogen Stock Down 0.8%

BIIB opened at $216.65 on Tuesday. The company’s 50-day moving average price is $208.15 and its two-hundred day moving average price is $195.89. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $222.85. The stock has a market cap 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 has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the business earned $5.47 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities analysts expect that Biogen Inc. will post 12.39 earnings per share for the current 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.