Investors Buy Shares of Biogen (BIIB) on Weakness

Traders bought shares of Biogen Inc (NASDAQ:BIIB) on weakness during trading on Monday. $125.75 million flowed into the stock on the tick-up and $92.83 million flowed out of the stock on the tick-down, for a money net flow of $32.92 million into the stock. Of all stocks tracked, Biogen had the 33rd highest net in-flow for the day. Biogen traded down ($2.13) for the day and closed at $232.37

Several research analysts recently issued reports on BIIB shares. BMO Capital Markets started coverage on Biogen in a research report on Friday, February 22nd. They set a “market perform” rating and a $322.00 price objective for the company. Mizuho set a $427.00 price objective on Biogen and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Oppenheimer cut their price objective on Biogen from $380.00 to $372.00 and set an “outperform” rating for the company in a research report on Tuesday, December 18th. ValuEngine downgraded Biogen from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. Finally, Bank of America downgraded Biogen from a “buy” rating to a “neutral” rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and eight have given a buy rating to the company. Biogen presently has an average rating of “Hold” and an average target price of $295.04.

The company has a quick ratio of 2.04, a current ratio of 2.32 and a debt-to-equity ratio of 0.46. The firm has a market cap of $46.13 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, January 29th. The biotechnology company reported $6.99 EPS for the quarter, topping analysts’ consensus estimates of $6.72 by $0.27. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.39 billion. Biogen had a return on equity of 40.53% and a net margin of 32.94%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $5.26 EPS. On average, research analysts expect that Biogen Inc will post 28.81 EPS for the current year.

In other news, Director Robert W. Pangia sold 6,114 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $328.55, for a total transaction of $2,008,754.70. Following the completion of the sale, the director now directly owns 24,701 shares in the company, valued at approximately $8,115,513.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexander J. Denner acquired 30,000 shares of the company’s stock in a transaction dated Wednesday, January 30th. The shares were purchased at an average price of $324.86 per share, with a total value of $9,745,800.00. Following the completion of the acquisition, the director now owns 10,909 shares in the company, valued at $3,543,897.74. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Biogen by 0.4% during the 4th quarter. BlackRock Inc. now owns 16,568,963 shares of the biotechnology company’s stock worth $4,985,931,000 after purchasing an additional 70,603 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Biogen by 27,620.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 14,257,427 shares during the period. AQR Capital Management LLC boosted its position in Biogen by 6.5% during the 3rd quarter. AQR Capital Management LLC now owns 3,024,037 shares of the biotechnology company’s stock worth $1,068,422,000 after purchasing an additional 183,542 shares during the period. Northern Trust Corp boosted its position in Biogen by 4.8% during the 4th quarter. Northern Trust Corp now owns 2,907,306 shares of the biotechnology company’s stock worth $874,867,000 after purchasing an additional 133,137 shares during the period. Finally, Geode Capital Management LLC boosted its position in Biogen by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 2,713,577 shares of the biotechnology company’s stock worth $815,190,000 after purchasing an additional 144,464 shares during the period. Institutional investors and hedge funds own 89.19% of the company’s stock.

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Biogen Company Profile (NASDAQ:BIIB)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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