Chicago Partners Investment Group LLC Buys New Position in Biogen Inc. $BIIB

Key Points

• Chicago Partners Investment Group LLC acquired a new stake in Biogen Inc., purchasing 2,358 shares valued at approximately $309,000 during the 2nd quarter.
• Biogen's most recent quarterly earnings report exceeded expectations, with an EPS of $5.47, surpassing analyst estimates of $3.93, and a revenue of $2.65 billion.
• Analyst ratings for Biogen show a mixed sentiment, with Wall Street Zen upgrading the stock to "strong-buy," while most other analysts have assigned a consensus rating of "Hold" with an average price target of $180.69.

Chicago Partners Investment Group LLC bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,358 shares of the biotechnology company's stock, valued at approximately $309,000.

Other large investors have also bought and sold shares of the company. Vision Financial Markets LLC bought a new position in Biogen during the first quarter valued at about $27,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen in the 1st quarter valued at $27,000. Zions Bancorporation National Association UT acquired a new position in shares of Biogen in the 1st quarter valued at $29,000. Concord Wealth Partners boosted its position in shares of Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 114 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of Biogen by 74.8% in the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 98 shares during the period. Institutional investors own 87.93% of the company's stock.

Insider Buying and Selling

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

Biogen Trading Up 1.6%

Shares of NASDAQ BIIB opened at $150.08 on Friday. Biogen Inc. has a one year low of $110.04 and a one year high of $187.58. The firm has a market capitalization of $22.00 billion, a PE ratio of 14.35, a PEG ratio of 1.17 and a beta of 0.13. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $142.80 and a two-hundred day moving average price of $132.03.

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

Analyst Ratings Changes

A number of research firms recently weighed in on BIIB. Wall Street Zen upgraded Biogen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 28th. Morgan Stanley increased their price target on Biogen from $144.00 to $149.00 and gave the company an "equal weight" rating in a research report on Friday, October 10th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research report on Wednesday, September 24th. Wedbush increased their price target on Biogen from $129.00 to $135.00 and gave the company a "neutral" rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Biogen in a research report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $180.69.

About Biogen

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.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.