Callan Family Office LLC Purchases Shares of 6,183 Biogen Inc. $BIIB

Callan Family Office LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, HoldingsChannel reports. The institutional investor purchased 6,183 shares of the biotechnology company’s stock, valued at approximately $1,336,000.

Several other hedge funds have also made changes to their positions in BIIB. Empowered Funds LLC grew its position in shares of Biogen by 64.9% in the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after purchasing an additional 2,777 shares during the period. Focus Partners Wealth lifted its position in Biogen by 172.2% during the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after buying an additional 6,436 shares during the period. Sivia Capital Partners LLC purchased a new position in Biogen during the second quarter worth about $216,000. Cerity Partners LLC boosted its stake in Biogen by 15.3% in the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock worth $5,847,000 after buying an additional 6,184 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Biogen by 13.4% in the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after buying an additional 316 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the subject of a number of research analyst reports. Truist Financial raised shares of Biogen from a “hold” rating to a “buy” rating and upped their price objective for the company from $190.00 to $235.00 in a research note on Monday, July 13th. Sanford C. Bernstein decreased their target price on shares of Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Freedom Capital upgraded shares of Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Evercore initiated coverage on shares of Biogen in a research report on Friday, May 15th. They set an “outperform” rating for the company. Finally, Weiss Ratings lowered shares of Biogen from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and an average target price of $227.07.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $216.78 on Monday. The firm has a market capitalization of $32.03 billion, a PE ratio of 38.37, a P/E/G ratio of 6.75 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The business has a 50-day moving average of $205.53 and a two-hundred day moving average of $194.58. Biogen Inc. has a 12 month low of $131.52 and a 12 month high of $222.15.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, research analysts forecast that Biogen Inc. will post 12.39 earnings per share for the current year.

Biogen Company Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.