Callan Capital LLC Acquires 329 Shares of Biogen Inc. (NASDAQ:BIIB)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Biogen by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock valued at $1,381,251,000 after acquiring an additional 27,951 shares in the last quarter. Northern Trust Corp raised its position in Biogen by 2.8% in the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after purchasing an additional 45,437 shares during the last quarter. Morgan Stanley lifted its holdings in Biogen by 4.3% during the 3rd quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock worth $383,745,000 after buying an additional 61,814 shares in the last quarter. Van ECK Associates Corp boosted its position in Biogen by 24.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock valued at $305,725,000 after buying an additional 233,889 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Biogen by 19.1% in the 3rd quarter. Invesco Ltd. now owns 1,181,374 shares of the biotechnology company’s stock valued at $303,625,000 after buying an additional 189,368 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of the company’s 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 sale, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Eric K. Rowinsky purchased 455 shares of the stock in a transaction dated Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, for a total transaction 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 can be accessed through this link. Also, insider Priya Singhal sold 419 shares of Biogen stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold a total of 882 shares of company stock valued at $202,030 in the last ninety days. 0.60% of the stock is currently owned by company insiders.

Biogen Stock Performance

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

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $3.40 earnings per share. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. As a group, research analysts predict that Biogen Inc. will post 15.48 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the topic of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $311.00 price target on shares of Biogen in a report on Tuesday, February 20th. Mizuho reduced their target price on shares of Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and set a $294.00 price target on shares of Biogen in a research note on Wednesday. BMO Capital Markets reduced their price objective on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Finally, Robert W. Baird dropped their target price on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $293.88.

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.