Investors sold shares of Biogen Inc. (NASDAQ:BIIB) on strength during trading on Monday. $110.95 million flowed into the stock on the tick-up and $162.22 million flowed out of the stock on the tick-down, for a money net flow of $51.27 million out of the stock. Of all companies tracked, Biogen had the 0th highest net out-flow for the day. Biogen traded up $1.20 for the day and closed at $261.50

Several analysts recently weighed in on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Biogen in a report on Thursday, June 30th. Citigroup Inc. reaffirmed a “buy” rating and issued a $345.00 target price on shares of Biogen in a report on Monday, April 11th. Leerink Swann reaffirmed a “market perform” rating and issued a $319.00 target price on shares of Biogen in a report on Wednesday, June 1st. Robert W. Baird reaffirmed a “hold” rating on shares of Biogen in a report on Monday, May 16th. Finally, Piper Jaffray Cos. reaffirmed a “hold” rating and issued a $293.00 target price on shares of Biogen in a report on Tuesday, June 7th. Eleven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $322.70.

The firm’s 50-day moving average is $250.79 and its 200 day moving average is $262.83. The stock has a market capitalization of $57.28 billion and a PE ratio of 16.07.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, April 21st. The biotechnology company reported $4.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.47 by $0.32. The company earned $2.73 billion during the quarter, compared to analyst estimates of $2.75 billion. Biogen’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.82 earnings per share. On average, analysts expect that Biogen Inc. will post $18.93 earnings per share for the current fiscal year.

In other news, CEO George A. Scangos sold 3,855 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $289.74, for a total value of $1,116,947.70. Following the completion of the transaction, the chief executive officer now owns 56,265 shares of the company’s stock, valued at $16,302,221.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO George A. Scangos sold 487 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $274.74, for a total value of $133,798.38. Following the completion of the transaction, the chief executive officer now directly owns 59,790 shares of the company’s stock, valued at approximately $16,426,704.60. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have added to or reduced their stakes in the company. Private Advisor Group LLC boosted its position in Biogen by 22.6% in the fourth quarter. Private Advisor Group LLC now owns 3,271 shares of the biotechnology company’s stock valued at $1,002,000 after buying an additional 603 shares during the last quarter. Davy Asset Management Ltd acquired a new position in Biogen during the fourth quarter valued at about $1,188,000. Victory Capital Management Inc. boosted its position in Biogen by 264.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,177 shares of the biotechnology company’s stock valued at $1,280,000 after buying an additional 3,030 shares during the last quarter. Garcia Hamilton & Associates LP DE boosted its position in Biogen by 1.9% in the fourth quarter. Garcia Hamilton & Associates LP DE now owns 4,559 shares of the biotechnology company’s stock valued at $1,397,000 after buying an additional 83 shares during the last quarter. Finally, Aviance Capital Partners LLC acquired a new position in Biogen during the fourth quarter valued at about $1,600,000.

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

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