Chicago Partners Investment Group LLC Invests $309,000 in Biogen Inc. $BIIB

Chicago Partners Investment Group LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,358 shares of the biotechnology company’s stock, valued at approximately $309,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. GAMMA Investing LLC raised its stake in shares of Biogen by 367.8% during the 1st quarter. GAMMA Investing LLC now owns 1,862 shares of the biotechnology company’s stock worth $255,000 after purchasing an additional 1,464 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Biogen by 15.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,049 shares of the biotechnology company’s stock worth $2,607,000 after purchasing an additional 2,606 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Biogen by 45.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,941 shares of the biotechnology company’s stock worth $2,455,000 after purchasing an additional 5,620 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Biogen by 11.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,828 shares of the biotechnology company’s stock valued at $524,000 after acquiring an additional 389 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in shares of Biogen by 57.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,440 shares of the biotechnology company’s stock valued at $334,000 after acquiring an additional 887 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on BIIB. Morgan Stanley raised their price objective on Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Biogen in a research note on Wednesday, October 8th. Truist Financial began coverage on Biogen in a research note on Monday, July 21st. They issued a “hold” rating and a $142.00 price objective on the stock. HC Wainwright raised their price objective on Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Rothschild & Co Redburn raised their price objective on Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Eleven analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $180.69.

Biogen Stock Performance

BIIB opened at $150.08 on Friday. The firm has a market capitalization of $22.00 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 0.13. The stock’s 50 day moving average price is $142.80 and its two-hundred day moving average price is $132.03. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $187.58.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.93 by $1.54. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, equities analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the sale, the insider owned 5,772 shares of the company’s stock, valued at $770,850.60. This trade represents a 8.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is owned by company insiders.

Biogen Company 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.