Investors Sell Biogen Inc. (BIIB) on Strength (BIIB)
Traders sold shares of Biogen Inc. (NASDAQ:BIIB) on strength during trading hours on Friday. $174.00 million flowed into the stock on the tick-up and $199.59 million flowed out of the stock on the tick-down, for a money net flow of $25.59 million out of the stock. Of all equities tracked, Biogen had the 0th highest net out-flow for the day. Biogen traded up $7.56 for the day and closed at $313.59
BIIB has been the topic of several research reports. Jefferies Group reaffirmed a “buy” rating and issued a $319.00 target price on shares of Biogen in a report on Sunday. Vetr raised Biogen from a “hold” rating to a “buy” rating and set a $326.73 target price on the stock in a report on Tuesday, August 30th. Morgan Stanley reduced their target price on Biogen from $385.00 to $368.00 and set an “overweight” rating on the stock in a report on Wednesday, August 17th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $333.00 target price (up from $293.00) on shares of Biogen in a report on Tuesday, August 16th. Finally, Zacks Investment Research raised Biogen from a “hold” rating to a “buy” rating and set a $352.00 target price on the stock in a report on Friday, August 12th. Ten equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and a consensus price target of $345.89.
The stock has a market cap of $68.71 billion and a PE ratio of 18.32. The stock’s 50-day moving average is $302.07 and its 200-day moving average is $271.44.
Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.69 by $0.52. The company earned $2.89 billion during the quarter, compared to analyst estimates of $2.79 billion. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $4.22 EPS. On average, analysts predict that Biogen Inc. will post $20.11 earnings per share for the current year.
In other Biogen news, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were 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 54,779 shares of the company’s stock, valued at approximately $15,338,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Adam Koppel sold 555 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $290.00, for a total transaction of $160,950.00. Following the completion of the transaction, the executive vice president now directly owns 2,402 shares of the company’s stock, valued at approximately $696,580. The disclosure for this sale can be found here.
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.