Callan Family Office LLC Purchases Shares of 2,454 Biogen Inc. $BIIB

Callan Family Office LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,454 shares of the biotechnology company's stock, valued at approximately $308,000.

Other hedge funds also recently bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. boosted its holdings in Biogen by 43.2% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company's stock valued at $4,867,000 after acquiring an additional 11,695 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Biogen by 6.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company's stock valued at $57,057,000 after buying an additional 25,464 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Biogen by 5.5% in the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company's stock valued at $8,405,000 after buying an additional 3,194 shares during the period. Point72 Europe London LLP bought a new stake in shares of Biogen in the first quarter valued at about $11,286,000. Finally, Motley Fool Asset Management LLC lifted its stake in shares of Biogen by 64.7% in the first quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company's stock valued at $932,000 after buying an additional 2,676 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Performance

NASDAQ BIIB opened at $142.26 on Friday. The firm has a market cap of $20.86 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.14 and a beta of 0.13. The company has a 50 day moving average of $141.29 and a 200-day moving average of $131.36. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $191.19.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping the consensus estimate of $3.93 by $1.54. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The company's revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, equities analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BIIB shares. HC Wainwright increased their target price on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Morgan Stanley increased their target price on shares of Biogen from $144.00 to $149.00 and gave the company an "equal weight" rating in a research note on Friday, October 10th. Wedbush increased their target price on shares of Biogen from $129.00 to $135.00 and gave the company a "neutral" rating in a research note on Tuesday. Citigroup reiterated a "neutral" rating on shares of Biogen in a research note on Wednesday, September 24th. Finally, Truist Financial started coverage on shares of Biogen in a research note on Monday, July 21st. They issued a "hold" rating and a $142.00 target price for the company. Eleven analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $180.69.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 517 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider owned 5,772 shares of the company's stock, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company's stock.

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.

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