Investors Sell Shares of Biogen (BIIB) on Strength (BIIB)

Traders sold shares of Biogen Inc (NASDAQ:BIIB) on strength during trading on Friday. $72.66 million flowed into the stock on the tick-up and $129.46 million flowed out of the stock on the tick-down, for a money net flow of $56.80 million out of the stock. Of all companies tracked, Biogen had the 0th highest net out-flow for the day. Biogen traded up $6.20 for the day and closed at $325.77

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada restated a “hold” rating and set a $321.00 price objective on shares of Biogen in a research note on Tuesday, December 5th. Mizuho set a $400.00 price objective on Biogen and gave the company a “buy” rating in a research note on Monday, November 13th. Goldman Sachs Group upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective for the company in a research note on Wednesday, August 16th. Vetr lowered Biogen from a “buy” rating to a “hold” rating and set a $316.82 price objective for the company. in a research note on Monday, September 4th. Finally, Morgan Stanley upgraded Biogen from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $311.00 to $375.00 in a research note on Thursday, October 5th. Twelve analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $344.60.

The company has a market cap of $68,892.86, a PE ratio of 15.09, a P/E/G ratio of 2.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $5.19 EPS. analysts predict that Biogen Inc will post 22.03 earnings per share for the current year.

In other news, Director Alexander J. Denner bought 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was bought at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the transaction, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Atlantic Trust LLC bought a new stake in shares of Biogen in the 2nd quarter worth approximately $114,000. Horan Capital Advisors LLC. bought a new stake in shares of Biogen in the 3rd quarter worth approximately $128,000. Massey Quick Simon & CO. LLC lifted its holdings in shares of Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after purchasing an additional 195 shares during the last quarter. Gs Investments Inc. bought a new stake in shares of Biogen in the 2nd quarter worth approximately $136,000. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of Biogen by 33.3% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 528 shares of the biotechnology company’s stock worth $143,000 after purchasing an additional 132 shares during the last quarter. 88.30% 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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