Callan Capital LLC Grows Stake in Biogen Inc. (NASDAQ:BIIB)

Callan Capital LLC raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 13.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,818 shares of the biotechnology company’s stock after acquiring an additional 329 shares during the quarter. Callan Capital LLC’s holdings in Biogen were worth $729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in Biogen during the third quarter valued at approximately $26,000. Gladius Capital Management LP purchased a new position in shares of Biogen in the 3rd quarter worth about $28,000. KB Financial Partners LLC boosted its holdings in shares of Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Biogen during the 4th quarter valued at about $36,000. Finally, Baker Avenue Asset Management LP raised its holdings in shares of Biogen by 215.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the transaction, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Eric K. Rowinsky bought 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock worth $202,030 in the last 90 days. Insiders own 0.60% of the company’s stock.

Biogen Stock Up 3.2 %

Shares of BIIB stock traded up $6.44 during mid-day trading on Friday, reaching $208.90. 1,893,868 shares of the company’s stock traded hands, compared to its average volume of 1,205,487. The company has a quick ratio of 1.26, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $212.55 and its 200-day moving average price is $233.78. The company has a market cap of $30.37 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.92 and a beta of -0.02. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $319.76.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the company earned $3.40 earnings per share. The business’s revenue was down 7.0% compared to the same quarter last year. On average, equities analysts expect that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on BIIB shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $311.00 target price on shares of Biogen in a research note on Tuesday, February 20th. Truist Financial reaffirmed a “buy” rating and set a $340.00 target price on shares of Biogen in a report on Monday, March 25th. BMO Capital Markets lowered their price target on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Piper Sandler decreased their price objective on Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Finally, Wells Fargo & Company lowered Biogen from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $315.00 to $240.00 in a research report on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average price target of $293.88.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.