Traders purchased shares of Biogen Inc. (NASDAQ:BIIB) on weakness during trading on Wednesday. $121.33 million flowed into the stock on the tick-up and $101.99 million flowed out of the stock on the tick-down, for a money net flow of $19.34 million into the stock. Of all companies tracked, Biogen had the 18th highest net in-flow for the day. Biogen traded down ($5.55) for the day and closed at $308.87

Several research firms have recently commented on BIIB. Cowen and Company reaffirmed a “buy” rating on shares of Biogen in a research report on Sunday, April 17th. Jefferies Group reaffirmed a “buy” rating on shares of Biogen in a research report on Sunday, April 24th. Goldman Sachs Group Inc. reissued a “hold” rating on shares of Biogen in a research report on Saturday, April 23rd. Vetr lowered Biogen from a “hold” rating to a “sell” rating and set a $265.77 target price on the stock. in a research report on Monday, July 25th. Finally, BMO Capital Markets boosted their target price on Biogen from $286.00 to $304.00 and gave the company a “market perform” rating in a research report on Monday, August 1st. Twelve investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Biogen currently has a consensus rating of “Buy” and a consensus target price of $342.74.

The firm has a 50 day moving average of $270.17 and a 200 day moving average of $265.48. The firm has a market capitalization of $67.68 billion and a price-to-earnings ratio of 18.04.

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

In other news, CEO George A. Scangos sold 157 shares of the business’s stock in a transaction dated Wednesday, May 25th. The shares were 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 of the company’s stock, valued at approximately $16,697,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George A. Scangos sold 3,855 shares of the business’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $289.74, for a total transaction of $1,116,947.70. Following the completion of the sale, the chief executive officer now directly owns 56,265 shares of the company’s stock, valued at approximately $16,302,221.10. The disclosure for this sale can be found here.

Several large investors recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. increased its stake 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. increased its stake 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 increased its stake 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. increased its stake 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, Calvert Investment Management Inc. increased its stake in Biogen by 9.5% in the fourth quarter. Calvert Investment Management Inc. now owns 9,652 shares of the biotechnology company’s stock valued at $2,957,000 after buying an additional 834 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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