Traders Sell Biogen (BIIB) on Strength (BIIB)
Traders sold shares of Biogen Inc (NASDAQ:BIIB) on strength during trading hours on Thursday. $105.05 million flowed into the stock on the tick-up and $170.38 million flowed out of the stock on the tick-down, for a money net flow of $65.33 million out of the stock. Of all equities tracked, Biogen had the 0th highest net out-flow for the day. Biogen traded up $3.97 for the day and closed at $326.70
Several equities research analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of Biogen in a report on Monday, October 1st. Raymond James reissued a “buy” rating on shares of Biogen in a report on Wednesday, October 3rd. BidaskClub downgraded Biogen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 29th. Citigroup cut their price objective on Biogen from $483.00 to $470.00 and set a “buy” rating for the company in a report on Monday, October 8th. Finally, Oppenheimer set a $400.00 price objective on Biogen and gave the company a “buy” rating in a report on Sunday, September 16th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and an average target price of $382.58.
The firm has a market cap of $65.02 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.75 and a quick ratio of 2.46.
In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president now owns 4,281 shares in the company, valued at approximately $1,498,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of BIIB. Raymond James Financial Services Advisors Inc. increased its position in Biogen by 2.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 20,487 shares of the biotechnology company’s stock worth $5,946,000 after buying an additional 420 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in Biogen by 1,862.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 628 shares of the biotechnology company’s stock worth $182,000 after buying an additional 596 shares during the period. Sigma Planning Corp bought a new position in Biogen during the 2nd quarter worth $234,000. CIBC Private Wealth Group LLC increased its position in Biogen by 6.9% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 21,760 shares of the biotechnology company’s stock worth $6,316,000 after buying an additional 1,404 shares during the period. Finally, Adviser Investments LLC increased its position in Biogen by 745.7% during the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after buying an additional 343 shares during the period. Hedge funds and other institutional investors own 87.16% of the company’s stock.
Biogen Company Profile (NASDAQ:BIIB)
Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
Featured Article: Short Selling – Explanation For Shorting Stocks
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.