Traders bought shares of Biogen Inc. (NASDAQ:BIIB) on weakness during trading on Wednesday following insider selling activity. $104.53 million flowed into the stock on the tick-up and $71.53 million flowed out of the stock on the tick-down, for a money net flow of $33.00 million into the stock. Of all stocks tracked, Biogen had the 15th highest net in-flow for the day. Biogen traded down ($1.78) for the day and closed at $309.70Specifically, Director Caroline Dorsa sold 27,570 shares of Biogen stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the completion of the sale, the director now owns 19,663 shares in the company, valued at approximately $6,174,182. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Adriana Karaboutis sold 380 shares of Biogen stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $313.00, for a total value of $118,940.00. Following the sale, the executive vice president now owns 7,172 shares of the company’s stock, valued at approximately $2,244,836. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
BIIB has been the subject of a number of recent research reports. Morgan Stanley reiterated a “buy” rating on shares of Biogen in a research report on Thursday, June 30th. Sanford C. Bernstein initiated coverage on Biogen in a report on Wednesday, June 29th. They issued an “outperform” rating and a $282.00 price target for the company. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 price target for the company in a report on Monday, September 12th. Piper Jaffray Cos. restated a “neutral” rating and issued a $333.00 price target (up previously from $293.00) on shares of Biogen in a report on Tuesday, August 16th. Finally, Zacks Investment Research upgraded Biogen from a “hold” rating to a “buy” rating and set a $321.00 price target for the company in a report on Wednesday, July 27th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Biogen currently has an average rating of “Buy” and a consensus target price of $347.34.
The stock has a market capitalization of $67.86 billion, a price-to-earnings ratio of 18.09 and a beta of 0.95. The firm’s 50 day moving average is $308.94 and its 200 day moving average is $279.14.
Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.69 by $0.52. The business earned $2.89 billion during the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. Biogen’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $4.22 EPS. Equities research analysts forecast that Biogen Inc. will post $20.10 EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Ancora Inverness LLC bought a new position in Biogen during the first quarter valued at approximately $686,000. Spark Investment Management LLC acquired a new stake in Biogen during the first quarter worth $1,275,000. Hikari Power Ltd boosted its stake in Biogen by 371.4% in the first quarter. Hikari Power Ltd now owns 13,200 shares of the biotechnology company’s stock worth $3,436,000 after buying an additional 10,400 shares in the last quarter. Adell Harriman & Carpenter Inc. boosted its stake in Biogen by 67.0% in the first quarter. Adell Harriman & Carpenter Inc. now owns 7,800 shares of the biotechnology company’s stock worth $2,030,000 after buying an additional 3,130 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Biogen during the first quarter worth $49,410,000. Institutional investors and hedge funds own 86.21% of the company’s stock.
Biogen Company Profile
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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