Callan Family Office LLC Purchases New Holdings in Biogen Inc. $BIIB

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

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Blair William & Co. IL grew its holdings in Biogen by 11.8% during the 2nd quarter. Blair William & Co. IL now owns 14,844 shares of the biotechnology company’s stock worth $1,864,000 after acquiring an additional 1,561 shares during the period. Leo Wealth LLC grew its holdings in Biogen by 1.6% during the 2nd quarter. Leo Wealth LLC now owns 18,123 shares of the biotechnology company’s stock worth $2,276,000 after acquiring an additional 288 shares during the period. Optas LLC acquired a new stake in Biogen during the 2nd quarter worth $200,000. Massachusetts Wealth Management grew its holdings in Biogen by 4.2% during the 2nd quarter. Massachusetts Wealth Management now owns 2,874 shares of the biotechnology company’s stock worth $361,000 after acquiring an additional 115 shares during the period. Finally, Dohj LLC grew its holdings in Biogen by 3.0% during the 2nd quarter. Dohj LLC now owns 8,853 shares of the biotechnology company’s stock worth $1,046,000 after acquiring an additional 261 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling

In related news, insider Priya Singhal sold 517 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the transaction, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. This represents a 8.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on BIIB shares. Royal Bank Of Canada lowered their target price on shares of Biogen from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Biogen in a research report on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Wall Street Zen raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 28th. Finally, Truist Financial began coverage on shares of Biogen in a research report on Monday, July 21st. They set a “hold” rating and a $142.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $180.69.

Biogen Stock Down 1.0%

Biogen stock opened at $142.26 on Friday. The firm has a market capitalization of $20.86 billion, a PE ratio of 13.60, a P/E/G ratio of 1.14 and a beta of 0.13. The company’s 50-day moving average is $141.29 and its 200-day moving average is $131.36. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $191.19. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79.

Biogen (NASDAQ:BIIB) last released 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 for 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%. Biogen’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen 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.