Biogen Inc. (NASDAQ:BIIB)’s share price fell 4.3% during mid-day trading on Wednesday . The stock traded as low as $310.06 and last traded at $315.88, with a volume of 3,247,065 shares changing hands. The stock had previously closed at $330.11.

Several research firms have recently issued reports on BIIB. Cowen and Company restated a “buy” rating on shares of Biogen in a report on Sunday, April 17th. Leerink Swann restated a “positive” rating and set a $319.00 price objective on shares of Biogen in a report on Tuesday, May 3rd. Piper Jaffray Cos. restated a “neutral” rating on shares of Biogen in a report on Wednesday. Jefferies Group restated a “buy” rating on shares of Biogen in a report on Sunday, May 29th. Finally, Vetr downgraded shares of Biogen from a “hold” rating to a “sell” rating and set a $299.76 price objective on the stock. in a report on Tuesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $341.84.

The firm has a market capitalization of $70.41 billion and a price-to-earnings ratio of 18.77. The firm has a 50-day moving average price of $257.10 and a 200-day moving average price of $263.38.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, beating the Zacks’ 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 earnings per share. On average, equities analysts predict that Biogen Inc. will post $19.98 earnings per share for the current year.

In other Biogen news, CEO George A. Scangos sold 157 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $280.00, for a total transaction of $43,960.00. Following the sale, the chief executive officer now directly owns 54,779 shares in the company, valued at $15,338,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO George A. Scangos sold 842 shares of the business’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $290.00, for a total value of $244,180.00. Following the sale, the chief executive officer now owns 54,936 shares in the company, valued at $15,931,440. The disclosure for this sale can be found here.

A number of hedge funds have recently bought and sold shares of the company. Gulf International Bank UK Ltd increased its stake in Biogen by 2.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 69,641 shares of the biotechnology company’s stock worth $21,335,000 after buying an additional 1,550 shares during the last quarter. Fernwood Investment Management LLC increased its stake in Biogen by 3.5% in the fourth quarter. Fernwood Investment Management LLC now owns 11,805 shares of the biotechnology company’s stock worth $3,616,000 after buying an additional 400 shares during the last quarter. Twin Capital Management Inc. increased its stake in Biogen by 9.4% in the fourth quarter. Twin Capital Management Inc. now owns 15,120 shares of the biotechnology company’s stock worth $4,632,000 after buying an additional 1,300 shares during the last quarter. Tredje AP fonden increased its stake in Biogen by 205.9% in the fourth quarter. Tredje AP fonden now owns 46,345 shares of the biotechnology company’s stock worth $14,198,000 after buying an additional 31,193 shares during the last quarter. Finally, Bedell Frazier Investment Counseling LLC purchased a new stake in Biogen during the fourth quarter worth approximately $3,976,000.

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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