Insider Selling: Biogen Inc (BIIB) Director Sells 5,832 Shares of Stock
Biogen Inc (NASDAQ:BIIB) Director Robert W. Pangia sold 5,832 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the transaction, the director now directly owns 23,539 shares in the company, valued at approximately $7,759,631.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Biogen Inc (NASDAQ BIIB) traded down $4.55 during trading hours on Thursday, hitting $332.17. 74,224 shares of the stock traded hands, compared to its average volume of 1,120,000. Biogen Inc has a 52 week low of $244.28 and a 52 week high of $348.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. The firm has a market cap of $70,250.00, a P/E ratio of 20.37, a PEG ratio of 1.97 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the company earned $5.19 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. equities research analysts predict that Biogen Inc will post 22 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on BIIB shares. Mizuho reaffirmed a “neutral” rating and set a $319.00 target price (up previously from $274.00) on shares of Biogen in a research report on Wednesday, September 13th. BMO Capital Markets boosted their price target on shares of Biogen from $328.00 to $377.00 and gave the company a “market perform” rating in a report on Wednesday, September 13th. Royal Bank of Canada started coverage on shares of Biogen in a report on Thursday, September 14th. They issued a “sector perform” rating and a $319.00 price target on the stock. SunTrust Banks started coverage on shares of Biogen in a report on Wednesday, September 20th. They issued a “buy” rating and a $360.00 price target on the stock. Finally, Raymond James Financial lowered shares of Biogen from a “strong-buy” rating to a “market perform” rating and boosted their price target for the company from $244.28 to $319.00 in a report on Thursday, September 21st. Ten analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Biogen currently has an average rating of “Buy” and an average price target of $350.13.
Several large investors have recently modified their holdings of the company. Bienville Capital Management LLC boosted its stake in shares of Biogen by 2.2% in the 2nd quarter. Bienville Capital Management LLC now owns 880 shares of the biotechnology company’s stock valued at $239,000 after purchasing an additional 19 shares in the last quarter. Forbes J M & Co. LLP lifted its position in Biogen by 0.6% during the 2nd quarter. Forbes J M & Co. LLP now owns 3,121 shares of the biotechnology company’s stock worth $846,000 after buying an additional 19 shares in the last quarter. People s United Financial Inc. lifted its position in Biogen by 1.1% during the 2nd quarter. People s United Financial Inc. now owns 2,269 shares of the biotechnology company’s stock worth $616,000 after buying an additional 25 shares in the last quarter. Linscomb & Williams Inc. lifted its position in Biogen by 2.5% during the 2nd quarter. Linscomb & Williams Inc. now owns 1,204 shares of the biotechnology company’s stock worth $327,000 after buying an additional 29 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC lifted its position in Biogen by 1.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,995 shares of the biotechnology company’s stock worth $816,000 after buying an additional 36 shares in the last quarter. Institutional investors own 88.11% of the company’s stock.
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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