Somewhat Positive Press Coverage Somewhat Unlikely to Impact Biogen (BIIB) Stock Price
Media stories about Biogen (NASDAQ:BIIB) have been trending somewhat positive recently, Accern reports. Accern ranks the sentiment of media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Biogen earned a media sentiment score of 0.20 on Accern’s scale. Accern also assigned headlines about the biotechnology company an impact score of 46.7031287219999 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news headlines that may have impacted Accern Sentiment’s rankings:
- Biogen Inc (BIIB) Expected to Announce Quarterly Sales of $3.06 Billion (americanbankingnews.com)
- Robert W. Pangia Sells 5,832 Shares of Biogen Inc (BIIB) Stock (americanbankingnews.com)
- How will tax reform affect Biogen? Its CFO offered a few hints at J.P. Morgan (finance.yahoo.com)
- Volume Moving the Tape 1.93% For Biogen Inc (BIIB) – SCY News (scynews.com)
BIIB has been the subject of several recent analyst reports. SunTrust Banks initiated coverage on Biogen in a research note on Wednesday, September 20th. They issued a “buy” rating and a $360.00 price target for the company. Raymond James Financial downgraded Biogen from a “strong-buy” rating to a “market perform” rating and upped their price target for the stock from $244.28 to $319.00 in a research note on Thursday, September 21st. Mizuho restated a “neutral” rating and issued a $319.00 price target on shares of Biogen in a research note on Monday, October 2nd. Morgan Stanley upgraded Biogen from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $311.00 to $375.00 in a research note on Thursday, October 5th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $315.00 price target on shares of Biogen in a research note on Thursday, October 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $350.13.
Shares of Biogen (NASDAQ BIIB) traded up $2.88 on Monday, hitting $335.95. The stock had a trading volume of 885,608 shares, compared to its average volume of 1,100,000. The stock has a market cap of $71,050.00, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.93 and a beta of 0.73. Biogen has a twelve month low of $244.28 and a twelve month high of $348.84. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the firm posted $5.19 EPS. Biogen’s quarterly revenue was up 4.1% compared to the same quarter last year. analysts expect that Biogen will post 22 earnings per share for the current year.
In related news, CEO Michel Vounatsos purchased 780 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were bought at an average price of $320.55 per share, for a total transaction of $250,029.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total value of $1,922,518.80. Following the sale, the director now owns 23,539 shares in the company, valued at approximately $7,759,631.35. The disclosure for this sale can be found here. Insiders have purchased a total of 31,560 shares of company stock worth $10,020,858 in the last 90 days. 0.25% of the stock is currently owned by insiders.
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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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