Traders Sell Biogen Inc. (BIIB) on Strength (BIIB)
Investors sold shares of Biogen Inc. (NASDAQ:BIIB) on strength during trading on Friday. $153.25 million flowed into the stock on the tick-up and $200.05 million flowed out of the stock on the tick-down, for a money net flow of $46.80 million out of the stock. Of all equities tracked, Biogen had the 0th highest net out-flow for the day. Biogen traded up $4.45 for the day and closed at $321.01
Several research firms have commented on BIIB. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price target on the stock in a research note on Tuesday, June 27th. Deutsche Bank AG began coverage on shares of Biogen in a report on Friday, June 23rd. They issued a “buy” rating and a $315.00 target price on the stock. Credit Suisse Group set a $300.00 target price on shares of Biogen and gave the stock a “hold” rating in a report on Friday, July 14th. Robert W. Baird restated a “hold” rating and issued a $290.00 target price on shares of Biogen in a report on Friday, August 25th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $277.00 target price on shares of Biogen in a report on Thursday, May 25th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $328.70.
The firm has a market capitalization of $67.87 billion, a PE ratio of 21.07 and a beta of 0.77. The company’s 50 day moving average is $288.68 and its 200-day moving average is $276.07.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. During the same quarter in the prior year, the firm earned $5.21 EPS. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts expect that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.
In related news, Director Brian S. Posner sold 1,084 shares of Biogen 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 in the company, valued at $1,622,442.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The disclosure for this sale can be found here. Insiders have sold 13,816 shares of company stock worth $3,931,380 in the last 90 days. Insiders own 0.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 valued at $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 valued at $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 valued at $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 valued at approximately $26,224,000. Finally, Israel Discount Bank of New York bought a new position in Biogen during the first quarter valued at approximately $894,000. 87.25% of the stock is currently owned by institutional investors.
Biogen Company Profile
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).
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