Investors sold shares of Biogen Inc. (NASDAQ:BIIB) on strength during trading hours on Wednesday. $69.33 million flowed into the stock on the tick-up and $95.20 million flowed out of the stock on the tick-down, for a money net flow of $25.87 million out of the stock. Of all equities tracked, Biogen had the 0th highest net out-flow for the day. Biogen traded up $1.73 for the day and closed at $307.86

A number of brokerages recently commented on BIIB. Jefferies Group reiterated a “buy” rating on shares of Biogen in a research report on Sunday, May 29th. Leerink Swann reiterated a “market perform” rating and issued a $319.00 target price on shares of Biogen in a research report on Wednesday, June 1st. Vetr upgraded shares of Biogen from a “sell” rating to a “hold” rating and set a $289.05 target price on the stock in a research report on Wednesday, July 27th. Zacks Investment Research lowered shares of Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $322.00 price target on shares of Biogen in a report on Wednesday, August 3rd. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $345.89.

The stock’s 50 day moving average is $298.86 and its 200 day moving average is $270.89. The firm has a market capitalization of $66.97 billion and a P/E ratio of 17.85.

Biogen (NASDAQ:BIIB) last issued its 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 business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the company earned $4.22 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. Equities research analysts predict that Biogen Inc. will post $20.11 EPS for the current fiscal year.

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

An institutional investor recently raised its position in Biogen stock. US Bancorp DE raised its stake in Biogen Inc. (NASDAQ:BIIB) by 3.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 71,143 shares of the biotechnology company’s stock after buying an additional 2,076 shares during the period. US Bancorp DE’s holdings in Biogen were worth $21,793,000 as of its most recent filing with the SEC.

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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