Biogen Inc. (NASDAQ:BIIB) Director Caroline Dorsa sold 27,570 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total value of $8,656,980.00. Following the completion of the transaction, the director now directly owns 19,663 shares in the company, valued at approximately $6,174,182. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Biogen Inc. (NASDAQ:BIIB) opened at 305.78 on Friday. The stock has a 50 day moving average of $309.21 and a 200-day moving average of $277.22. Biogen Inc. has a 52-week low of $223.02 and a 52-week high of $333.65. The firm has a market capitalization of $67.00 billion, a P/E ratio of 17.86 and a beta of 0.90.
Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.69 by $0.52. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the prior year, the business posted $4.22 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities analysts expect that Biogen Inc. will post $20.10 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Arvest Bank Trust Division increased its stake in shares of Biogen by 2.5% in the first quarter. Arvest Bank Trust Division now owns 87,689 shares of the biotechnology company’s stock worth $22,827,000 after buying an additional 2,171 shares during the last quarter. Commonwealth Equity Services Inc increased its stake in shares of Biogen by 5.3% in the first quarter. Commonwealth Equity Services Inc now owns 31,734 shares of the biotechnology company’s stock worth $8,261,000 after buying an additional 1,599 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Biogen during the first quarter worth about $1,272,000. Virginia Retirement System purchased a new stake in shares of Biogen during the first quarter worth about $16,170,000. Finally, Outfitter Advisors LTD. increased its stake in shares of Biogen by 6.6% in the first quarter. Outfitter Advisors LTD. now owns 26,066 shares of the biotechnology company’s stock worth $6,786,000 after buying an additional 1,610 shares during the last quarter. Institutional investors own 86.21% of the company’s stock.
A number of research analysts have recently weighed in on BIIB shares. Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $273.44 price target on the stock. in a research note on Thursday, June 9th. Royal Bank Of Canada reissued a “buy” rating on shares of Biogen in a research note on Wednesday, June 8th. HC Wainwright reissued a “buy” rating and issued a $360.00 price target on shares of Biogen in a research note on Wednesday, June 8th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Biogen in a research note on Wednesday, June 8th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Biogen in a research note on Thursday, June 30th. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $347.39.
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
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