Biogen Inc. $BIIB Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in Biogen Inc. (NASDAQ:BIIB) by 9.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,303 shares of the biotechnology company’s stock after purchasing an additional 7,905 shares during the period. Illinois Municipal Retirement Fund’s holdings in Biogen were worth $16,372,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. Vanguard Group Inc. boosted its holdings in shares of Biogen by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company’s stock valued at $3,070,514,000 after buying an additional 157,857 shares in the last quarter. Geode Capital Management LLC raised its stake in Biogen by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock worth $736,435,000 after acquiring an additional 130,618 shares in the last quarter. Norges Bank acquired a new stake in Biogen during the 4th quarter worth $464,408,000. Invesco Ltd. lifted its position in Biogen by 4.2% in the third quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after acquiring an additional 98,001 shares during the last quarter. Finally, Morgan Stanley lifted its position in Biogen by 3.3% in the fourth quarter. Morgan Stanley now owns 2,325,013 shares of the biotechnology company’s stock valued at $409,180,000 after acquiring an additional 73,478 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Key Headlines Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen and Ionis said diranersen produced meaningful reductions in tau biomarkers and showed signs of slowing cognitive decline, supporting the company’s long-term Alzheimer’s pipeline prospects. Article Title
• Positive Sentiment: Biogen received FDA approval for LEQEMBI IQLIK, a weekly at-home initiation dose for early Alzheimer’s patients, which could improve adoption and convenience. Article Title
• Neutral Sentiment: Biogen appointed Michael J. Parini as Chief Legal Officer, effective August 3, a governance update that adds legal and compliance leadership but does not change the core investment story. Article Title
• Negative Sentiment: Investors appear worried that diranersen’s Phase 2 data did not clearly validate the intended dose-response effect, raising execution risk as Biogen considers Phase 3 development. Article Title

Biogen Trading Up 2.8%

Shares of Biogen stock opened at $197.24 on Thursday. Biogen Inc. has a 1 year low of $121.05 and a 1 year high of $219.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06. The company has a market capitalization of $29.12 billion, a P/E ratio of 21.16 and a beta of 0.16. The company’s fifty day moving average is $198.83 and its two-hundred day moving average is $188.66.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business posted $3.02 earnings per share. Biogen’s quarterly revenue was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Analysts forecast that Biogen Inc. will post 13.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank Of Canada raised their price objective on Biogen from $227.00 to $242.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Freedom Capital raised Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen raised Biogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Truist Financial upgraded Biogen from a “hold” rating to a “buy” rating and raised their price target for the stock from $190.00 to $235.00 in a research note on Monday. Finally, Needham & Company LLC lifted their price target on Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of “Moderate Buy” and an average target price of $220.04.

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.