Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Callan Capital LLC

Callan Capital LLC increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,221 shares of the biotechnology company’s stock after acquiring an additional 180 shares during the quarter. Callan Capital LLC’s holdings in Biogen were worth $747,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BIIB. Vanguard Group Inc. increased its holdings in shares of Biogen by 18.2% in the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after acquiring an additional 2,218,744 shares during the period. FIL Ltd increased its holdings in shares of Biogen by 936.4% in the 4th quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock valued at $169,883,000 after acquiring an additional 593,158 shares during the period. First Trust Advisors LP increased its holdings in shares of Biogen by 141.0% in the 4th quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock valued at $252,898,000 after acquiring an additional 571,795 shares during the period. Van ECK Associates Corp increased its holdings in shares of Biogen by 22.2% in the 1st quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock valued at $374,623,000 after acquiring an additional 316,144 shares during the period. Finally, Primecap Management Co. CA increased its holdings in shares of Biogen by 1.6% in the 4th quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock valued at $4,208,760,000 after acquiring an additional 251,915 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BIIB has been the topic of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $285.00 price objective on shares of Biogen in a research note on Wednesday, September 4th. Barclays dropped their price objective on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird dropped their price objective on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Wells Fargo & Company dropped their price objective on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $292.00 price objective on shares of Biogen in a research note on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.52.

Biogen Price Performance

Biogen stock opened at $201.44 on Friday. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $269.43. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $207.92 and its 200 day simple moving average is $215.17. The firm has a market capitalization of $29.33 billion, a PE ratio of 25.15, a P/E/G ratio of 2.01 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.02 EPS. On average, equities research analysts predict that Biogen Inc. will post 16.12 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

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.