Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $4.51 Million Stock Holdings in Biogen Inc. $BIIB

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Biogen Inc. (NASDAQ:BIIB) by 7.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,937 shares of the biotechnology company’s stock after buying an additional 2,463 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Biogen were worth $4,513,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BIIB. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Biogen during the 1st quarter valued at $27,000. Vision Financial Markets LLC acquired a new stake in shares of Biogen during the first quarter valued at about $27,000. Zions Bancorporation National Association UT bought a new stake in shares of Biogen during the first quarter worth about $29,000. Concord Wealth Partners increased its stake in shares of Biogen by 100.0% in the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 114 shares during the period. Finally, NewSquare Capital LLC increased its stake in shares of Biogen by 134.6% in the second quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 140 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Biogen in a research note on Thursday, November 13th. Wall Street Zen cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. HC Wainwright raised their target price on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Morgan Stanley lifted their target price on Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Ten research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $177.46.

Insider Buying and Selling

In related news, insider Priya Singhal sold 517 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider owned 5,772 shares of the company’s stock, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $168.83 on Wednesday. The company has a market capitalization of $24.77 billion, a PE ratio of 16.14, a P/E/G ratio of 1.17 and a beta of 0.10. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $170.78. The firm has a fifty day simple moving average of $149.34 and a 200 day simple moving average of $137.12.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the business posted $4.08 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

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.