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 stocks 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

Several equities research analysts recently commented on BIIB shares. BMO Capital Markets started coverage on shares of Biogen in a report on Tuesday, April 5th. They issued a “market perform” rating and a $283.00 price target for the company. Jefferies Group dropped their target price on shares of Biogen to $325.00 and set a “buy” rating for the company in a report on Wednesday, April 6th. Morgan Stanley dropped their target price on shares of Biogen from $419.00 to $404.00 in a report on Friday, April 8th. Citigroup Inc. reaffirmed a “buy” rating and set a $345.00 target price on shares of Biogen in a report on Monday, April 11th. Finally, Leerink Swann reaffirmed a “market perform” rating and set a $328.00 target price on shares of Biogen in a report on Tuesday, April 12th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $323.20.

The company’s 50-day moving average is $253.06 and its 200 day moving average is $262.96. The company has a market cap of $63.53 billion and a P/E ratio of 16.94.

Biogen (NASDAQ:BIIB) last posted 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. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.22 EPS. Equities research analysts anticipate that Biogen Inc. will post $20.14 EPS for the current fiscal year.

In other Biogen news, 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 value of $43,960.00. Following the completion of the sale, the chief executive officer now owns 59,633 shares in the company, valued at approximately $16,697,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 of the company’s stock, valued at approximately $16,426,704.60. The disclosure for this sale can be found here.

Several institutional investors have recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP raised its position in 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 valued at $157,362,000 after buying an additional 512,977 shares in the last quarter. State of Tennessee Treasury Department raised its position in Biogen by 211.4% in the fourth quarter. State of Tennessee Treasury Department now owns 383,602 shares of the biotechnology company’s stock valued at $117,516,000 after buying an additional 260,412 shares in the last quarter. Marshall Wace LLP raised its position in Biogen by 1,531.4% in the fourth quarter. Marshall Wace LLP now owns 201,721 shares of the biotechnology company’s stock valued at $61,797,000 after buying an additional 189,356 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in Biogen by 30.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 163,906 shares of the biotechnology company’s stock valued at $50,213,000 after buying an additional 38,062 shares in the last quarter. Finally, Tredje AP fonden raised its position in Biogen by 205.9% in the fourth quarter. Tredje AP fonden now owns 46,345 shares of the biotechnology company’s stock valued at $14,198,000 after buying an additional 31,193 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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