Biogen Inc. $BIIB Stock Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 1,393.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,391 shares of the biotechnology company’s stock after acquiring an additional 237,360 shares during the period. State of Alaska Department of Revenue owned 0.17% of Biogen worth $57,462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BIIB. Charles Schwab Trust Co grew its holdings in Biogen by 3.2% during the 3rd quarter. Charles Schwab Trust Co now owns 3,200 shares of the biotechnology company’s stock valued at $723,000 after buying an additional 99 shares in the last quarter. Turtle Creek Wealth Advisors LLC boosted its position in shares of Biogen by 463.4% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 9,008 shares of the biotechnology company’s stock worth $2,035,000 after acquiring an additional 7,409 shares during the last quarter. Nvwm LLC boosted its position in shares of Biogen by 2,706.2% during the third quarter. Nvwm LLC now owns 449 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 433 shares during the last quarter. Ashurst Perkins Coie Trust Co grew its stake in Biogen by 92.2% during the third quarter. Ashurst Perkins Coie Trust Co now owns 173 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 83 shares in the last quarter. Finally, Mather Group LLC. grew its stake in Biogen by 2,194.3% during the third quarter. Mather Group LLC. now owns 36,433 shares of the biotechnology company’s stock valued at $8,229,000 after acquiring an additional 34,845 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Up 2.3%

BIIB traded up $5.45 on Thursday, hitting $238.28. The company had a trading volume of 828,399 shares, compared to its average volume of 1,202,329. The business’s fifty day simple moving average is $218.89 and its 200 day simple moving average is $203.29. 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 Inc. has a 12-month low of $138.00 and a 12-month high of $240.99. The company has a market cap of $35.21 billion, a PE ratio of 42.19, a PEG ratio of 2.53 and a beta of 0.09.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.66. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities research analysts expect that Biogen Inc. will post 12.41 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on BIIB shares. HC Wainwright lifted their price target on shares of Biogen from $237.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Oppenheimer reissued an “outperform” rating and set a $300.00 price objective on shares of Biogen in a report on Wednesday, July 29th. Needham & Company LLC increased their price objective on shares of Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a report on Monday, June 29th. Guggenheim raised their price objective on Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, TD Cowen lifted their target price on Biogen from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and a consensus price target of $236.04.

Biogen Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer’s disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen’s products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich’s ataxia.