Traders Sell Biogen Inc. (BIIB) on Strength (BIIB)
Traders sold shares of Biogen Inc. (NASDAQ:BIIB) on strength during trading hours on Wednesday. $98.18 million flowed into the stock on the tick-up and $119.92 million flowed out of the stock on the tick-down, for a money net flow of $21.74 million out of the stock. Of all stocks tracked, Biogen had the 0th highest net out-flow for the day. Biogen traded up $1.31 for the day and closed at $288.35
Several equities analysts have recently commented on BIIB shares. Morgan Stanley lowered their price target on shares of Biogen from $419.00 to $404.00 in a report on Friday, April 8th. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $273.44 price target on the stock. in a report on Thursday, June 9th. BMO Capital Markets initiated coverage on shares of Biogen in a report on Tuesday, April 5th. They set a “market perform” rating and a $283.00 price target on the stock. Piper Jaffray Cos. reiterated a “hold” rating and issued a $293.00 price objective on shares of Biogen in a report on Tuesday, June 7th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Biogen in a report on Friday, April 15th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $323.20.
The company has a market cap of $62.97 billion and a price-to-earnings ratio of 16.79. The company’s 50 day moving average is $250.93 and its 200-day moving average is $262.68.
Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping the consensus estimate of $4.69 by $0.52. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the previous year, the firm posted $4.22 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts anticipate that Biogen Inc. will post $20.00 EPS for the current fiscal year.
In other Biogen 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 value of $133,798.38. Following the completion of the sale, the chief executive officer now owns 59,790 shares in the company, valued at approximately $16,426,704.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George A. Scangos sold 157 shares of Biogen stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $280.00, for a total transaction of $43,960.00. Following the completion of the sale, the chief executive officer now owns 59,633 shares of the company’s stock, valued at approximately $16,697,240. The disclosure for this sale can be found here.
A number of hedge funds have modified their holdings of BIIB. Mizuho Trust & Banking Co. Ltd. boosted its stake 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 valued at $109,050,000 after buying an additional 4,063 shares during the period. Private Advisor Group LLC boosted its stake in shares of 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 period. Pinnacle Associates Ltd. boosted its stake in shares of Biogen by 4.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 11,901 shares of the biotechnology company’s stock valued at $3,646,000 after buying an additional 479 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its stake in shares of Biogen by 34.6% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 13,593 shares of the biotechnology company’s stock valued at $4,164,000 after buying an additional 3,496 shares during the period. Finally, Afam Capital Inc. acquired a new stake in shares of Biogen during the fourth quarter valued at $5,327,000.
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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