Traders Buy Biogen (BIIB) on Weakness

Traders bought shares of Biogen (NASDAQ:BIIB) on weakness during trading hours on Monday. $102.98 million flowed into the stock on the tick-up and $77.42 million flowed out of the stock on the tick-down, for a money net flow of $25.56 million into the stock. Of all equities tracked, Biogen had the 12th highest net in-flow for the day. Biogen traded down ($2.73) for the day and closed at $277.67

A number of research analysts have recently commented on the stock. Robert W. Baird upgraded shares of Biogen from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 25th. BMO Capital Markets restated a “buy” rating on shares of Biogen in a research report on Thursday, January 25th. JPMorgan Chase restated a “buy” rating on shares of Biogen in a research report on Thursday, February 8th. Mizuho set a $423.00 price target on shares of Biogen and gave the company a “buy” rating in a research report on Thursday, May 3rd. Finally, Canaccord Genuity boosted their price target on shares of Biogen from $340.00 to $350.00 and gave the company a “hold” rating in a research report on Wednesday, January 24th. Eleven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and a consensus price target of $353.71.

The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.95 and a current ratio of 3.23. The company has a market capitalization of $58.59 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84.



Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, April 24th. The biotechnology company reported $6.05 earnings per share for the quarter, topping the consensus estimate of $5.93 by $0.12. The business had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.15 billion. Biogen had a net margin of 23.54% and a return on equity of 37.64%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.20 earnings per share. equities analysts anticipate that Biogen will post 23.9 EPS for the current fiscal year.

In other Biogen news, Director Alexander J. Denner purchased 48,000 shares of the stock in a transaction on Wednesday, April 25th. The stock was acquired at an average cost of $269.91 per share, with a total value of $12,955,680.00. Following the completion of the purchase, the director now directly owns 10,029 shares of the company’s stock, valued at approximately $2,706,927.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alfred Sandrock sold 259 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total transaction of $75,324.97. Following the completion of the sale, the executive vice president now directly owns 6,553 shares of the company’s stock, valued at $1,905,808.99. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. IFC Holdings Incorporated FL raised its stake in shares of Biogen by 4.1% during the fourth quarter. IFC Holdings Incorporated FL now owns 4,050 shares of the biotechnology company’s stock valued at $1,293,000 after acquiring an additional 160 shares during the last quarter. Cue Financial Group Inc. raised its stake in shares of Biogen by 11.3% during the fourth quarter. Cue Financial Group Inc. now owns 1,628 shares of the biotechnology company’s stock valued at $519,000 after acquiring an additional 165 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Biogen by 77.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 174 shares during the last quarter. Linscomb & Williams Inc. raised its stake in shares of Biogen by 13.5% during the fourth quarter. Linscomb & Williams Inc. now owns 1,481 shares of the biotechnology company’s stock valued at $472,000 after acquiring an additional 176 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its stake in shares of Biogen by 7.2% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,634 shares of the biotechnology company’s stock valued at $839,000 after acquiring an additional 177 shares during the last quarter. 87.31% of the stock is owned by institutional investors and hedge funds.

About Biogen

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.

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