Biogen Inc (BIIB) Director Robert W. Pangia Sells 5,832 Shares of Stock

Biogen Inc (NASDAQ:BIIB) Director Robert W. Pangia sold 5,832 shares of Biogen stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the completion of the sale, the director now owns 23,539 shares of the company’s stock, valued at $7,759,631.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Biogen Inc (BIIB) traded down $4.55 during trading hours on Thursday, hitting $332.17. 74,224 shares of the stock were exchanged, compared to its average volume of 1,120,000. Biogen Inc has a 12 month low of $244.28 and a 12 month high of $348.84. The company has a market capitalization of $70,250.00, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.97 and a beta of 0.73. 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 earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the firm posted $5.19 earnings per share. Biogen’s revenue was up 4.1% compared to the same quarter last year. research analysts expect that Biogen Inc will post 22 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Biogen by 2.3% during the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after acquiring an additional 415,099 shares during the period. Vanguard Group Inc. increased its position in Biogen by 1.3% during the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after acquiring an additional 182,337 shares during the period. State Street Corp increased its position in Biogen by 1.5% during the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after acquiring an additional 140,929 shares during the period. FMR LLC increased its position in Biogen by 10.1% during the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after acquiring an additional 561,436 shares during the period. Finally, Northern Trust Corp increased its position in Biogen by 8.0% during the second quarter. Northern Trust Corp now owns 3,017,136 shares of the biotechnology company’s stock worth $818,731,000 after acquiring an additional 223,371 shares during the period. 88.11% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have issued reports on BIIB. Canaccord Genuity set a $340.00 target price on shares of Biogen and gave the company a “hold” rating in a research note on Friday, January 5th. Mizuho set a $400.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Friday, January 5th. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Piper Jaffray Companies reiterated a “buy” rating on shares of Biogen in a research note on Tuesday, January 2nd. Finally, Nomura lifted their target price on shares of Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research note on Saturday, December 30th. Ten research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $350.13.

ILLEGAL ACTIVITY NOTICE: “Biogen Inc (BIIB) Director Robert W. Pangia Sells 5,832 Shares of Stock” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another site, it was stolen and reposted in violation of international copyright legislation. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/01/11/biogen-inc-biib-director-robert-w-pangia-sells-5832-shares-of-stock.html.

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).

Insider Buying and Selling by Quarter for Biogen (NASDAQ:BIIB)

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