California State Teachers Retirement System Has $10.27 Billion Stock Holdings in Biogen Inc. $BIIB

California State Teachers Retirement System boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 21,439.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 47,535,145 shares of the biotechnology company’s stock after acquiring an additional 47,314,458 shares during the quarter. California State Teachers Retirement System owned approximately 0.32% of Biogen worth $10,270,443,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wedmont Private Capital lifted its stake in shares of Biogen by 3.6% in the 2nd quarter. Wedmont Private Capital now owns 3,012 shares of the biotechnology company’s stock valued at $600,000 after acquiring an additional 104 shares during the last quarter. HB Wealth Management LLC grew its position in Biogen by 8.7% during the 2nd quarter. HB Wealth Management LLC now owns 6,176 shares of the biotechnology company’s stock worth $1,334,000 after acquiring an additional 495 shares during the last quarter. Saudi Central Bank increased its holdings in Biogen by 89.7% in the 2nd quarter. Saudi Central Bank now owns 10,273 shares of the biotechnology company’s stock worth $2,220,000 after purchasing an additional 4,858 shares in the last quarter. Noble Wealth Partners LLC acquired a new position in Biogen in the 2nd quarter worth about $290,000. Finally, Syon Capital LLC raised its position in Biogen by 11.6% in the second quarter. Syon Capital LLC now owns 3,492 shares of the biotechnology company’s stock valued at $754,000 after purchasing an additional 362 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

NASDAQ:BIIB opened at $212.50 on Wednesday. The company has a market capitalization of $31.40 billion, a PE ratio of 37.61, a P/E/G ratio of 2.44 and a beta of 0.17. The company has a 50 day simple moving average of $209.55 and a two-hundred day simple moving average of $196.93. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. Biogen Inc. has a fifty-two week low of $135.39 and a fifty-two week high of $225.80.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company earned $5.47 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts anticipate that Biogen Inc. will post 12.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BIIB. UBS Group lifted their price target on Biogen from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. HSBC reaffirmed a “reduce” rating and issued a $157.00 price objective on shares of Biogen in a research note on Monday, July 6th. Mizuho lifted their target price on shares of Biogen from $221.00 to $241.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Zacks Research raised shares of Biogen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Guggenheim raised their price target on shares of Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.50.

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.