Oregon Public Employees Retirement Fund Increases Stake in Biogen Inc. $BIIB

Oregon Public Employees Retirement Fund raised its position in Biogen Inc. (NASDAQ:BIIB) by 32.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 16,741 shares of the biotechnology company’s stock after acquiring an additional 4,143 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Biogen were worth $2,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elevation Point Wealth Partners LLC purchased a new stake in Biogen in the 2nd quarter valued at approximately $25,000. Rothschild Investment LLC raised its stake in shares of Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after buying an additional 88 shares during the last quarter. Concord Wealth Partners grew its position 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 purchasing an additional 114 shares during the last quarter. NewSquare Capital LLC increased its position in Biogen by 134.6% during the second quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after buying an additional 140 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new position in Biogen in the 2nd quarter valued at about $32,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their price objective on Biogen from $217.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. William Blair restated an “outperform” rating on shares of Biogen in a report on Wednesday, September 24th. Wells Fargo & Company lifted their target price on Biogen from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Wall Street Zen lowered Biogen from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research note on Wednesday, September 24th. Ten research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $187.81.

Biogen Stock Down 1.1%

Shares of NASDAQ:BIIB opened at $185.63 on Tuesday. The company has a market capitalization of $27.23 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.56 and a beta of 0.13. The company has a 50 day moving average of $173.73 and a two-hundred day moving average of $150.98. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $190.20. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.35.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the company posted $4.08 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

About Biogen

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.