State of Alaska Department of Revenue lifted its position in Biogen Inc. (NASDAQ:BIIB – Free Report) by 1,393.7% in the 3rd quarter, Holdings Channel.com reports. The fund 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’s holdings in Biogen were worth $57,462,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in BIIB. Reflection Asset Management purchased a new stake in Biogen in the 4th quarter worth about $25,000. Bell Investment Advisors Inc bought a new stake in Biogen in the second quarter worth about $27,000. MV Capital Management Inc. bought a new stake in Biogen in the fourth quarter worth about $34,000. SHP Wealth Management purchased a new position in shares of Biogen during the fourth quarter valued at approximately $39,000. Finally, Ashurst Perkins Coie Trust Co boosted its position in shares of 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 buying an additional 83 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.
Biogen Stock Up 2.3%
NASDAQ BIIB traded up $5.45 on Thursday, reaching $238.28. 828,399 shares of the stock traded hands, compared to its average volume of 1,202,329. 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 price-to-earnings ratio of 42.19, a PEG ratio of 2.53 and a beta of 0.09. The company has a fifty day moving average price of $218.89 and a 200-day moving average price of $203.29. 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 (NASDAQ:BIIB – Get Free Report) last posted 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. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, research analysts forecast that Biogen Inc. will post 12.41 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have recently commented on BIIB. Jefferies Financial Group reaffirmed a “buy” rating on shares of Biogen in a research note on Monday, July 13th. Needham & Company LLC raised their price target on Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Biogen in a report on Monday, June 22nd. Wedbush boosted their price objective on Biogen from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Biogen currently has a consensus rating of “Moderate Buy” and an average target price of $236.04.
View Our Latest Report on Biogen
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.
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