Teacher Retirement System of Texas Sells 3,182 Shares of Biogen Inc. $BIIB

Teacher Retirement System of Texas trimmed its holdings in Biogen Inc. (NASDAQ:BIIB) by 7.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,793 shares of the biotechnology company’s stock after selling 3,182 shares during the period. Teacher Retirement System of Texas’ holdings in Biogen were worth $5,294,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its stake in shares of Biogen by 5.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,739 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 92 shares during the last quarter. iA Global Asset Management Inc. raised its holdings in Biogen by 4.6% during the third quarter. iA Global Asset Management Inc. now owns 16,978 shares of the biotechnology company’s stock valued at $2,378,000 after buying an additional 754 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Biogen in the third quarter worth about $87,000. Covestor Ltd boosted its stake in shares of Biogen by 19.3% during the 3rd quarter. Covestor Ltd now owns 1,025 shares of the biotechnology company’s stock worth $144,000 after acquiring an additional 166 shares in the last quarter. Finally, CVA Family Office LLC increased its holdings in shares of Biogen by 18.1% during the 3rd quarter. CVA Family Office LLC now owns 464 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Truist Financial boosted their target price on Biogen from $142.00 to $190.00 and gave the stock a “hold” rating in a report on Thursday, January 8th. Hsbc Global Res cut shares of Biogen from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 10th. Mizuho raised their target price on shares of Biogen from $177.00 to $207.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Jefferies Financial Group boosted their target price on shares of Biogen from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 28th. Finally, Wells Fargo & Company upped their price target on shares of Biogen from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Ten research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $191.85.

Biogen Price Performance

NASDAQ:BIIB opened at $173.12 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04. Biogen Inc. has a one year low of $110.04 and a one year high of $190.20. The company has a fifty day moving average price of $175.97 and a 200 day moving average price of $153.71. The stock has a market cap of $25.40 billion, a P/E ratio of 15.78, a PEG ratio of 1.43 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.92. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

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.