Biogen Inc. (NASDAQ:BIIB) Stock Position Increased by Callan Capital LLC

Callan Capital LLC boosted its position in Biogen Inc. (NASDAQ:BIIB) by 87.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,075 shares of the biotechnology company’s stock after purchasing an additional 970 shares during the quarter. Callan Capital LLC’s holdings in Biogen were worth $317,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its position in Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after purchasing an additional 248,942 shares during the last quarter. Geode Capital Management LLC lifted its position in Biogen by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after purchasing an additional 47,055 shares during the last quarter. Pacer Advisors Inc. lifted its position in Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. RA Capital Management L.P. lifted its position in Biogen by 20.6% in the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after purchasing an additional 202,317 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Biogen by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after buying an additional 18,905 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Performance

Shares of BIIB opened at $140.64 on Friday. The company’s 50 day moving average price is $145.16 and its 200 day moving average price is $170.62. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The company has a market capitalization of $20.59 billion, a PE ratio of 12.57, a PEG ratio of 1.47 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Research analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Oppenheimer dropped their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Piper Sandler restated a “neutral” rating and set a $135.00 price target (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Finally, Bank of America restated a “neutral” rating and set a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus price target of $213.33.

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.