Investors Sell Biogen Inc. (BIIB) on Strength (BIIB)

Traders sold shares of Biogen Inc. (NASDAQ:BIIB) on strength during trading hours on Thursday. $70.42 million flowed into the stock on the tick-up and $158.58 million flowed out of the stock on the tick-down, for a money net flow of $88.16 million out of the stock. Of all equities tracked, Biogen had the 7th highest net out-flow for the day. Biogen traded up $0.12 for the day and closed at $333.31

Several equities research analysts have recently commented on the company. UBS AG upgraded Biogen from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $262.00 to $270.00 in a research note on Monday, June 19th. Stifel Nicolaus restated a “hold” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday. Morgan Stanley upgraded Biogen from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $311.00 to $375.00 in a research note on Thursday, October 5th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $315.00 target price on shares of Biogen in a report on Thursday, October 5th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $319.00 target price on shares of Biogen in a report on Monday, October 2nd. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Biogen has an average rating of “Buy” and a consensus price target of $331.49.

The firm has a 50 day moving average price of $317.04 and a 200-day moving average price of $282.89. The stock has a market cap of $70.47 billion, a P/E ratio of 21.87 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the consensus estimate of $4.36 by $0.68. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. Biogen’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $5.21 EPS. On average, equities research analysts predict that Biogen Inc. will post $21.54 earnings per share for the current fiscal year.

In other news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the sale, the executive vice president now directly owns 27,232 shares in the company, valued at $7,761,120. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Biogen by 2.3% in the 2nd quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock valued at $4,913,612,000 after acquiring an additional 415,099 shares during the period. Vanguard Group Inc. raised its stake in shares of Biogen by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock valued at $3,944,171,000 after acquiring an additional 182,337 shares during the period. State Street Corp raised its stake in shares of Biogen by 1.5% in the 2nd quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock valued at $2,637,973,000 after acquiring an additional 140,929 shares during the period. Clearbridge Investments LLC raised its stake in shares of Biogen by 4.0% in the 1st quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock valued at $2,493,871,000 after acquiring an additional 351,224 shares during the period. Finally, FMR LLC raised its stake in shares of Biogen by 10.1% in the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock valued at $1,656,390,000 after acquiring an additional 561,436 shares during the period. 87.65% of the stock is currently owned by institutional investors and hedge funds.

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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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