Biogen Inc. (BIIB) Trading Up 2.4%
Biogen Inc. (NASDAQ:BIIB) shares were up 2.4% on Friday . The stock traded as high as $259.98 and last traded at $258.85, with a volume of 1,343,368 shares traded. The stock had previously closed at $252.87.
Several research analysts recently weighed in on BIIB shares. Morgan Stanley restated a “buy” rating on shares of Biogen in a research note on Thursday, June 30th. Sanford C. Bernstein started coverage on Biogen in a research note on Wednesday, June 29th. They set an “outperform” rating and a $282.00 target price on the stock. Citigroup Inc. downgraded Biogen from a “buy” rating to a “neutral” rating and dropped their price target for the company from $345.00 to $295.00 in a research note on Tuesday, June 7th. Jefferies Group dropped their price target on Biogen to $325.00 and set a “buy” rating on the stock in a research note on Wednesday, April 6th. Finally, Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $261.63 price target on the stock. in a research note on Monday, July 4th. Eleven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $322.70.
The stock’s 50 day moving average price is $251.41 and its 200-day moving average price is $263.83. The company has a market capitalization of $57.02 billion and a price-to-earnings ratio of 16.00.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, April 21st. The biotechnology company reported $4.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.47 by $0.32. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.75 billion. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.82 EPS. Equities research analysts predict that Biogen Inc. will post $18.93 EPS for the current fiscal year.
In other Biogen news, CEO George A. Scangos sold 157 shares of Biogen stock in a transaction that occurred 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 sale, the chief executive officer now owns 59,633 shares of the company’s stock, valued at approximately $16,697,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adam Koppel sold 555 shares of Biogen stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $290.00, for a total value of $160,950.00. Following the completion of the sale, the executive vice president now directly owns 2,402 shares in the company, valued at approximately $696,580. The disclosure for this sale can be found here.
Other large investors have made changes to their positions in the company. State of Tennessee Treasury Department raised its stake in shares of Biogen by 211.4% in the fourth quarter. State of Tennessee Treasury Department now owns 383,602 shares of the biotechnology company’s stock worth $117,516,000 after buying an additional 260,412 shares in the last quarter. TrimTabs Asset Management LLC acquired a new stake in shares of Biogen during the fourth quarter worth $2,375,000. Morningstar Investment Services LLC acquired a new stake in shares of Biogen during the fourth quarter worth $3,134,000. Ashburton Jersey Ltd acquired a new stake in shares of Biogen during the fourth quarter worth $3,081,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Biogen by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 418,648 shares of the biotechnology company’s stock worth $128,259,000 after buying an additional 19,889 shares in 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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