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

A number of brokerages have issued reports on BIIB. Jefferies Group reiterated a “buy” rating and issued a $319.00 price target on shares of Biogen in a report on Thursday. Citigroup Inc. reissued a “buy” rating and issued a $345.00 price objective on shares of Biogen in a research note on Monday, April 11th. Standpoint Research cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday. Leerink Swann reissued a “market perform” rating and issued a $319.00 price objective on shares of Biogen in a research note on Wednesday, June 1st. Finally, Robert W. Baird reissued a “hold” rating on shares of Biogen in a research note on Monday, May 16th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Biogen currently has a consensus rating of “Buy” and a consensus price target of $342.74.

The company has a market cap of $69.64 billion and a P/E ratio of 18.57. The firm has a 50 day moving average of $261.54 and a 200-day moving average of $264.17.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.69 by $0.52. During the same quarter last year, the company posted $4.22 earnings per share. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.79 billion. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that Biogen Inc. will post $19.98 earnings per share for the current year.

In other news, CEO George A. Scangos sold 157 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 59,633 shares of the company’s stock, valued at $16,697,240. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO George A. Scangos sold 842 shares of the 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 completion of the transaction, the chief executive officer now directly owns 54,936 shares of the company’s stock, valued at approximately $15,931,440. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have added to or reduced their stakes in BIIB. TCI Wealth Advisors Inc. boosted its position in 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 during the last quarter. Suntrust Banks Inc. boosted its position in 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 during the last quarter. Atlantic Trust Group LLC boosted its position in 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 during the last quarter. Veritable L.P. boosted its position in Biogen by 4.0% in the fourth quarter. Veritable L.P. now owns 13,006 shares of the biotechnology company’s stock valued at $3,984,000 after buying an additional 505 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Biogen by 12.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 8,383 shares of the biotechnology company’s stock valued at $2,568,000 after buying an additional 925 shares during 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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