NJ State Employees Deferred Compensation Plan Increases Stock Holdings in Biogen Inc. $BIIB

NJ State Employees Deferred Compensation Plan boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 107.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,180 shares of the biotechnology company’s stock after acquiring an additional 2,680 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Biogen were worth $726,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BIIB. Empowered Funds LLC grew its position in shares of Biogen by 64.9% during the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after purchasing an additional 2,777 shares in the last quarter. Focus Partners Wealth grew its position in Biogen by 172.2% during the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after buying an additional 6,436 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Biogen in the 2nd quarter worth about $216,000. Sequoia Financial Advisors LLC increased its stake in Biogen by 50.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,527 shares of the biotechnology company’s stock worth $568,000 after acquiring an additional 1,510 shares during the last quarter. Finally, Mutual Advisors LLC purchased a new stake in shares of Biogen in the 2nd quarter valued at about $234,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Performance

NASDAQ:BIIB opened at $196.52 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.03 and a current ratio of 2.68. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $202.41. The firm has a market cap of $28.84 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.56 and a beta of 0.16. The business has a 50 day moving average price of $178.54 and a 200-day moving average price of $159.77.

Biogen (NASDAQ:BIIB) last issued its earnings results on Friday, February 6th. The biotechnology company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.61 by $0.38. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.21 billion. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.44 earnings per share. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Biogen from $217.00 to $233.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Truist Financial increased their price target on shares of Biogen from $190.00 to $193.00 and gave the stock a “hold” rating in a report on Monday, February 9th. Wolfe Research set a $231.00 target price on shares of Biogen in a research report on Monday, February 9th. Tudor Pickering set a $201.00 target price on Biogen in a research note on Monday, February 9th. Finally, Jefferies Financial Group raised their price target on Biogen from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 28th. Twelve research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Biogen has a consensus rating of “Hold” and a consensus target price of $205.84.

Insider Activity

In other Biogen news, insider Priya Singhal sold 2,660 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the completion of the transaction, the insider owned 8,043 shares of the company’s stock, valued at $1,607,232.69. This represents a 24.85% decrease in their position. 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 insiders.

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.