Traders sold shares of Biogen Inc. (NASDAQ:BIIB) on strength during trading on Thursday. $386.70 million flowed into the stock on the tick-up and $442.51 million flowed out of the stock on the tick-down, for a money net flow of $55.81 million out of the stock. Of all stocks tracked, Biogen had the 0th highest net out-flow for the day. Biogen traded up $20.04 for the day and closed at $282.45

BIIB has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of Biogen from $419.00 to $404.00 in a research report on Friday, April 8th. Jefferies Group reduced their price target on shares of Biogen to $325.00 and set a “buy” rating on the stock in a research report on Wednesday, April 6th. Cowen and Company reaffirmed a “buy” rating on shares of Biogen in a research report on Sunday, April 17th. Citigroup Inc. reaffirmed a “buy” rating and set a $345.00 price target on shares of Biogen in a research report on Monday, April 11th. Finally, Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $313.54 price target on the stock. in a research report on Monday, April 25th. Eleven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $321.79.

The firm has a 50 day moving average price of $250.14 and a 200 day moving average price of $262.95. The firm has a market capitalization of $61.87 billion and a PE ratio of 17.36.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, beating the consensus estimate of $4.69 by $0.52. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the firm posted $4.22 earnings per share. Biogen’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts predict that Biogen Inc. will post $18.96 EPS for the current fiscal year.

In related news, CEO George A. Scangos sold 487 shares of Biogen stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $274.74, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George A. Scangos sold 157 shares of Biogen stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $280.00, for a total transaction of $43,960.00. Following the transaction, the chief executive officer now directly owns 59,633 shares of the company’s stock, valued at $16,697,240. The disclosure for this sale can be found here.

Other institutional investors recently made changes to their positions in the company. Westfield Capital Management Co. LP increased its position in shares of Biogen by 74,344.5% in the fourth quarter. Westfield Capital Management Co. LP now owns 513,667 shares of the biotechnology company’s stock worth $157,362,000 after buying an additional 512,977 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Biogen by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 418,648 shares of the biotechnology company’s stock worth $128,259,000 after buying an additional 19,889 shares in the last quarter. State of Tennessee Treasury Department increased its position in shares of Biogen by 211.4% in the fourth quarter. State of Tennessee Treasury Department now owns 383,602 shares of the biotechnology company’s stock worth $117,516,000 after buying an additional 260,412 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. increased its position in shares of Biogen by 1.2% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 353,669 shares of the biotechnology company’s stock worth $109,050,000 after buying an additional 4,063 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Biogen by 6.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 328,485 shares of the biotechnology company’s stock worth $100,631,000 after buying an additional 20,000 shares in the last quarter.

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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