Traders Sell Biogen Inc. (BIIB) on Strength (BIIB)
Traders sold shares of Biogen Inc. (NASDAQ:BIIB) on strength during trading hours on Thursday. $171.60 million flowed into the stock on the tick-up and $234.96 million flowed out of the stock on the tick-down, for a money net flow of $63.36 million out of the stock. Of all equities tracked, Biogen had the 0th highest net out-flow for the day. Biogen traded up $12.81 for the day and closed at $316.56
A number of brokerages recently commented on BIIB. UBS AG restated a “neutral” rating and set a $285.00 target price (up previously from $270.00) on shares of Biogen in a report on Wednesday, July 26th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Biogen in a report on Thursday, May 25th. Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price objective for the company. in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective for the company in a report on Wednesday, August 16th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $319.00 price objective (up previously from $315.00) on shares of Biogen in a report on Wednesday, July 26th. Thirteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Biogen presently has a consensus rating of “Buy” and a consensus price target of $328.70.
The firm has a market capitalization of $67.87 billion, a P/E ratio of 21.07 and a beta of 0.77. The stock’s 50-day moving average price is $288.68 and its 200-day moving average price is $276.07.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the firm earned $5.21 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Biogen Inc. will post $21.44 earnings per share for the current year.
In other news, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the transaction, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the transaction, the director now owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,816 shares of company stock valued at $3,931,380. Company insiders own 0.32% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wrapmanager Inc. raised its position in Biogen by 7.7% in the first quarter. Wrapmanager Inc. now owns 5,525 shares of the biotechnology company’s stock worth $1,511,000 after buying an additional 396 shares during the period. Savant Capital LLC raised its position in Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock worth $231,000 after buying an additional 30 shares during the period. Vanguard Group Inc. raised its position in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares during the period. Karp Capital Management Corp bought a new position in Biogen during the first quarter worth about $26,224,000. Finally, Israel Discount Bank of New York bought a new position in Biogen during the first quarter worth about $894,000. Institutional investors and hedge funds own 87.25% of the company’s stock.
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Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).