Traders Sell Shares of Biogen (BIIB) on Strength (BIIB)
Investors sold shares of Biogen Inc (NASDAQ:BIIB) on strength during trading hours on Tuesday. $97.89 million flowed into the stock on the tick-up and $141.78 million flowed out of the stock on the tick-down, for a money net flow of $43.89 million out of the stock. Of all equities tracked, Biogen had the 0th highest net out-flow for the day. Biogen traded up $6.71 for the day and closed at $336.36
Several research analysts recently commented on the stock. Bank of America increased their target price on shares of Biogen from $358.00 to $365.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Mizuho set a $400.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Friday, January 5th. Canaccord Genuity set a $340.00 target price on shares of Biogen and gave the stock a “hold” rating in a report on Friday, January 5th. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Finally, Citigroup cut shares of Biogen from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Biogen presently has a consensus rating of “Buy” and a consensus target price of $350.13.
The firm has a market cap of $70,860.00, a PE ratio of 20.55, a price-to-earnings-growth ratio of 1.97 and a beta of 0.73. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data 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. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.19 earnings per share. research analysts forecast that Biogen Inc will post 22 EPS for the current fiscal year.
In related news, Director Robert W. Pangia sold 5,832 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total transaction of $1,922,518.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michel Vounatsos purchased 780 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were acquired at an average cost of $320.55 per share, for a total transaction of $250,029.00. The disclosure for this purchase can be found here. Insiders bought 31,560 shares of company stock worth $10,020,858 over the last three months. Insiders own 0.25% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new position in Biogen during the third quarter worth about $123,494,000. Cambridge Investment Research Advisors Inc. increased its position in Biogen by 9.6% during the third 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. Cubist Systematic Strategies LLC increased its position in Biogen by 151.3% during the third quarter. Cubist Systematic Strategies LLC now owns 10,646 shares of the biotechnology company’s stock worth $3,333,000 after acquiring an additional 6,409 shares during the period. IFP Advisors Inc increased its position in Biogen by 47.1% during the third quarter. IFP Advisors Inc now owns 3,330 shares of the biotechnology company’s stock worth $1,043,000 after acquiring an additional 1,066 shares during the period. Finally, Bainco International Investors increased its position in Biogen by 4.4% during the third quarter. Bainco International Investors now owns 18,671 shares of the biotechnology company’s stock worth $5,846,000 after acquiring an additional 790 shares during the period. 88.11% of the stock is currently owned by institutional investors and hedge funds.
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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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