California State Teachers Retirement System Cuts Stock Position in Biogen Inc. $BIIB

California State Teachers Retirement System lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 220,687 shares of the biotechnology company’s stock after selling 5,693 shares during the quarter. California State Teachers Retirement System owned 0.15% of Biogen worth $40,459,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Rothschild Investment LLC lifted its position in shares of Biogen by 12.3% during the fourth quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 56 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in Biogen by 1.2% during the first quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company’s stock valued at $866,000 after buying an additional 57 shares in the last quarter. Kera Capital Partners Inc. lifted its holdings in Biogen by 3.5% during the 1st quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company’s stock worth $316,000 after buying an additional 58 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Biogen by 1.5% during the 1st quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company’s stock worth $801,000 after buying an additional 65 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its position in shares of Biogen by 24.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 66 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Key Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported second-quarter revenue of $2.74 billion, up 3.4% year over year and ahead of consensus estimates of approximately $2.46 billion. Growth was led by newer products and the company’s growth portfolio, helping adjusted EPS reach $3.60 versus the $2.94 analyst estimate. Biogen beats quarterly estimates as newer drugs drive growth
• Positive Sentiment: Management raised its revenue outlook and highlighted continued momentum in newer medicines and strategic acquisitions, supporting the view that Biogen is gradually reducing its reliance on older products. Biogen raises revenue outlook as growth portfolio drives Q2 beat
• Positive Sentiment: Several analysts became more constructive after the results. TD Cowen raised its price target to $225 and upgraded the stock to Buy, while Morgan Stanley increased its target to $231, although it retained an Equal Weight rating. Barclays also expects the shares to rise.
• Neutral Sentiment: Wedbush raised its price target from $201 to $215 but maintained a Neutral rating, and Piper Sandler reaffirmed its Buy rating. Zacks upgraded Biogen from Strong Sell to Hold, indicating improving sentiment but not broad analyst conviction.
• Negative Sentiment: Reported profitability deteriorated substantially. Second-quarter net income fell to $97.5 million, while diluted EPS from continuing operations declined to $0.66 from $4.33 a year earlier; first-half net income also dropped to $417 million from $875.3 million. The sharp gap between revenue growth and reported earnings is raising concerns that profitability may be peaking. Biogen earnings and profitability analysis

Analysts Set New Price Targets

A number of analysts have weighed in on BIIB shares. Wall Street Zen cut shares of Biogen from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Biogen in a report on Wednesday. HSBC reaffirmed a “reduce” rating and set a $157.00 price objective on shares of Biogen in a research report on Monday, July 6th. Rothschild & Co Redburn increased their price objective on shares of Biogen from $180.00 to $190.00 in a research note on Thursday, April 30th. Finally, Mizuho cut their target price on shares of Biogen from $236.00 to $221.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.36.

Biogen Stock Down 2.4%

BIIB stock opened at $202.95 on Friday. The company has a 50 day moving average of $201.23 and a two-hundred day moving average of $190.60. The company has a market cap of $29.99 billion, a price-to-earnings ratio of 35.92, a PEG ratio of 6.43 and a beta of 0.16. Biogen Inc. has a 12-month low of $124.56 and a 12-month high of $219.72. The company has a quick ratio of 2.41, a current ratio of 1.87 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB) last released 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 net margin of 8.32% and a return on equity of 11.18%. Biogen’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, equities analysts anticipate that Biogen Inc. will post 12.49 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.