Investors Buy Biogen (BIIB) on Weakness

Traders bought shares of Biogen Inc (NASDAQ:BIIB) on weakness during trading hours on Friday. $155.52 million flowed into the stock on the tick-up and $77.34 million flowed out of the stock on the tick-down, for a money net flow of $78.18 million into the stock. Of all companies tracked, Biogen had the 13th highest net in-flow for the day. Biogen traded down ($2.03) for the day and closed at $342.41

Several equities analysts have weighed in on BIIB shares. SunTrust Banks reissued a “buy” rating and set a $354.00 price target on shares of Biogen in a research report on Tuesday, October 24th. HC Wainwright reissued a “buy” rating and set a $340.00 price target on shares of Biogen in a research report on Wednesday, October 25th. Mizuho reissued a “buy” rating and set a $400.00 price target on shares of Biogen in a research report on Thursday. Royal Bank of Canada reissued a “hold” rating and set a $315.00 price target on shares of Biogen in a research report on Thursday, October 5th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $279.00 price target on shares of Biogen in a research report on Tuesday, October 24th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Biogen currently has a consensus rating of “Buy” and a consensus target price of $353.75.

The firm has a market capitalization of $72,411.84, a PE ratio of 15.86, a P/E/G ratio of 1.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.19 earnings per share. sell-side analysts predict that Biogen Inc will post 22 EPS for the current year.

In other Biogen news, CEO Michel Vounatsos acquired 780 shares of the stock in a transaction dated Friday, December 29th. The stock was acquired at an average price of $320.55 per share, with a total value of $250,029.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total value of $1,922,518.80. Following the sale, the director now directly owns 23,539 shares of the company’s stock, valued at approximately $7,759,631.35. The disclosure for this sale can be found here. In the last ninety days, insiders bought 31,560 shares of company stock valued at $10,020,858. Company insiders own 0.25% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Forbes J M & Co. LLP grew its position in Biogen by 0.6% during the second quarter. Forbes J M & Co. LLP now owns 3,121 shares of the biotechnology company’s stock valued at $846,000 after acquiring an additional 19 shares during the period. People s United Financial Inc. grew its position in Biogen by 1.1% during the second quarter. People s United Financial Inc. now owns 2,269 shares of the biotechnology company’s stock valued at $616,000 after acquiring an additional 25 shares during the period. Linscomb & Williams Inc. grew its position in Biogen by 2.5% during the second quarter. Linscomb & Williams Inc. now owns 1,204 shares of the biotechnology company’s stock valued at $327,000 after acquiring an additional 29 shares during the period. YorkBridge Wealth Partners LLC grew its position in Biogen by 1.2% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,995 shares of the biotechnology company’s stock valued at $816,000 after acquiring an additional 36 shares during the period. Finally, MML Investors Services LLC grew its position in Biogen by 1.1% during the second quarter. MML Investors Services LLC now owns 3,780 shares of the biotechnology company’s stock valued at $1,026,000 after acquiring an additional 41 shares during the period. 88.14% of the stock is owned by hedge funds and other institutional investors.

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About Biogen

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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