Investors Sell Shares of Biogen Inc. (BIIB) on Strength (BIIB)
Traders sold shares of Biogen Inc. (NASDAQ:BIIB) on strength during trading 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 subject of a number of research analyst reports. Morgan Stanley reissued a “buy” rating on shares of Biogen in a report on Thursday, June 30th. Sanford C. Bernstein initiated coverage on Biogen in a report on Wednesday, June 29th. They set an “outperform” rating and a $282.00 price target for the company. Vetr raised Biogen from a “hold” rating to a “buy” rating and set a $326.73 price target for the company in a report on Tuesday. Citigroup Inc. cut Biogen from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $345.00 to $295.00 in a report on Tuesday, June 7th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and set a $333.00 price target (up previously from $293.00) on shares of Biogen in a report on Tuesday, August 16th. Ten analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $345.89.
The company has a 50-day moving average price of $302.07 and a 200 day moving average price of $271.44. The company has a market cap of $68.71 billion and a price-to-earnings ratio of 18.32.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.52. The firm earned $2.89 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the prior year, the business earned $4.22 EPS. Biogen’s revenue was up 11.7% on a year-over-year basis. On average, equities research analysts anticipate that Biogen Inc. will post $20.11 EPS for the current year.
In related news, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $280.00, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Adam Koppel sold 555 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 2,402 shares in the company, valued at approximately $696,580. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Biogen stock. US Bancorp DE boosted its stake in shares of 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 SEC filing.
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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