Investors sold shares of Biogen Inc. (NASDAQ:BIIB) on strength during trading hours on Friday. $75.00 million flowed into the stock on the tick-up and $124.31 million flowed out of the stock on the tick-down, for a money net flow of $49.31 million out of the stock. Of all companies tracked, Biogen had the 0th highest net out-flow for the day. Biogen traded up $0.90 for the day and closed at $289.93

A number of equities research analysts recently commented on BIIB shares. Goldman Sachs Group Inc. reissued a “hold” rating on shares of Biogen in a research report on Saturday, April 23rd. Jefferies Group decreased their target price on shares of Biogen to $325.00 and set a “buy” rating for the company in a research report on Wednesday, April 6th. Morgan Stanley increased their target price on shares of Biogen from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Thursday, July 21st. Credit Suisse Group AG reissued a “hold” rating and set a $312.00 target price on shares of Biogen in a research report on Friday, July 22nd. Finally, BMO Capital Markets reissued a “market perform” rating and set a $287.00 target price on shares of Biogen in a research report on Sunday, July 24th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Biogen presently has an average rating of “Buy” and a consensus price target of $323.20.

The firm has a market cap of $63.53 billion and a PE ratio of 16.94. The firm has a 50-day moving average of $253.06 and a 200-day moving average of $262.96.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, beating the consensus estimate of $4.69 by $0.52. The business earned $2.89 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter last year, the company earned $4.22 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts anticipate that Biogen Inc. will post $20.14 EPS for the current year.

In other Biogen news, CEO George A. Scangos sold 487 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $274.74, for a total value of $133,798.38. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George A. Scangos sold 157 shares of the business’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $280.00, for a total transaction of $43,960.00. Following the completion of the transaction, the chief executive officer now directly owns 59,633 shares in the company, valued at $16,697,240. The disclosure for this sale can be found here.

A number of institutional investors have recently made changes to their positions in the stock. TCI Wealth Advisors Inc. boosted its position in shares of Biogen by 2.7% in the fourth quarter. TCI Wealth Advisors Inc. now owns 6,856 shares of the biotechnology company’s stock valued at $2,100,000 after buying an additional 180 shares in the last quarter. RidgeWorth Capital Management LLC boosted its position in shares of Biogen by 0.3% in the fourth quarter. RidgeWorth Capital Management LLC now owns 62,278 shares of the biotechnology company’s stock valued at $19,079,000 after buying an additional 184 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of Biogen by 1.0% in the fourth quarter. Suntrust Banks Inc. now owns 21,653 shares of the biotechnology company’s stock valued at $6,632,000 after buying an additional 213 shares in the last quarter. Fernwood Investment Management LLC boosted its position in shares of Biogen by 3.5% in the fourth quarter. Fernwood Investment Management LLC now owns 11,805 shares of the biotechnology company’s stock valued at $3,616,000 after buying an additional 400 shares in the last quarter. Finally, Atlantic Trust Group LLC boosted its position in shares of Biogen by 3.7% in the fourth quarter. Atlantic Trust Group LLC now owns 13,158 shares of the biotechnology company’s stock valued at $4,031,000 after buying an additional 470 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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