Investors Sell Biogen (BIIB) on Strength (BIIB)
Traders sold shares of Biogen Inc. (NASDAQ:BIIB) on strength during trading on Friday. $72.66 million flowed into the stock on the tick-up and $129.46 million flowed out of the stock on the tick-down, for a money net flow of $56.80 million out of the stock. Of all companies tracked, Biogen had the 19th highest net out-flow for the day. Biogen traded up $6.20 for the day and closed at $325.77
A number of analysts have issued reports on the company. Bank of America lifted their price target on Biogen from $358.00 to $365.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Citigroup downgraded Biogen from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $390.00 price target on shares of Biogen in a report on Monday, October 23rd. Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and lifted their price target for the stock from $300.00 to $415.00 in a report on Tuesday, October 17th. Finally, Mizuho raised Biogen from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $319.00 to $400.00 in a report on Tuesday, October 17th. Twelve analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $344.60.
The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The company has a market cap of $66,543.32, a PE ratio of 14.57, a PEG ratio of 1.96 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the firm posted $5.19 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. sell-side analysts forecast that Biogen Inc. will post 22.03 earnings per share for the current year.
In other Biogen news, Director Alexander J. Denner bought 30,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the transaction, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new position in Biogen during the 3rd quarter worth approximately $123,494,000. Botty Investors LLC increased its position in Biogen by 75.0% during the 2nd quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock worth $3,048,000 after purchasing an additional 4,812 shares during the period. BB&T Securities LLC grew its holdings in shares of Biogen by 25.0% in the 2nd quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock worth $3,524,000 after acquiring an additional 2,598 shares during the period. Neuberger Berman Group LLC grew its holdings in shares of Biogen by 18.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock worth $7,591,000 after acquiring an additional 4,389 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Biogen by 9.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,948 shares of the biotechnology company’s stock worth $1,862,000 after acquiring an additional 520 shares during the period. Institutional investors own 88.30% of the company’s stock.
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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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