Traders bought shares of Biogen Inc. (NASDAQ:BIIB) on weakness during trading on Friday. $424.91 million flowed into the stock on the tick-up and $76.97 million flowed out of the stock on the tick-down, for a money net flow of $347.94 million into the stock. Of all stocks tracked, Biogen had the 12th highest net in-flow for the day. Biogen traded down ($2.40) for the day and closed at $321.26

A number of brokerages recently commented on BIIB. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and raised their price objective for the company from $262.00 to $270.00 in a research report on Monday, June 19th. Mizuho reiterated a “neutral” rating and set a $319.00 price target (up from $274.00) on shares of Biogen in a research report on Wednesday. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price target for the company in a research report on Thursday, August 10th. Royal Bank Of Canada started coverage on shares of Biogen in a research report on Thursday. They set a “sector perform” rating and a $319.00 price target for the company. Finally, Cowen and Company reiterated a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $331.53.

The company has a market cap of $67.92 billion, a P/E ratio of 21.08 and a beta of 0.77. The firm’s 50-day moving average price is $298.79 and its 200 day moving average price is $278.33.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.21 EPS. Equities research analysts expect that Biogen Inc. will post $21.48 earnings per share for the current year.

In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares in the company, valued at approximately $6,455,042.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction 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. 0.32% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in BIIB. Waldron LP increased its stake in Biogen by 17.0% in the 1st quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock valued at $826,000 after buying an additional 439 shares during the period. ING Groep NV increased its stake in Biogen by 1.5% in the 1st quarter. ING Groep NV now owns 69,494 shares of the biotechnology company’s stock valued at $19,001,000 after buying an additional 1,000 shares during the period. Eqis Capital Management Inc. increased its stake in Biogen by 30.6% in the 1st quarter. Eqis Capital Management Inc. now owns 6,052 shares of the biotechnology company’s stock valued at $1,655,000 after buying an additional 1,419 shares during the period. British Airways Pensions Investment Management Ltd increased its stake in Biogen by 5.9% in the 1st quarter. British Airways Pensions Investment Management Ltd now owns 120,049 shares of the biotechnology company’s stock valued at $32,807,000 after buying an additional 6,689 shares during the period. Finally, LSV Asset Management increased its stake in Biogen by 10.6% in the 1st quarter. LSV Asset Management now owns 34,369 shares of the biotechnology company’s stock valued at $9,397,000 after buying an additional 3,300 shares during the period. Hedge funds and other institutional investors own 87.26% of the company’s stock.

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About Biogen

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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