Biogen Inc (NASDAQ:BIIB) Director Robert W. Pangia sold 5,832 shares of the firm’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 in the company, valued at $7,759,631.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Biogen Inc (BIIB) traded up $6.02 during trading on Thursday, hitting $344.87. 1,428,900 shares of the stock traded hands, compared to its average volume of 1,209,927. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. Biogen Inc has a 1 year low of $244.28 and a 1 year high of $348.84. The company has a market capitalization of $71,630.00, a P/E ratio of 21.14, a PEG ratio of 1.92 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm posted $5.19 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. research analysts expect that Biogen Inc will post 21.99 earnings per share for the current year.
BIIB has been the subject of a number of research analyst reports. Guggenheim initiated coverage on Biogen in a research report on Monday, October 23rd. They set a “buy” rating and a $402.00 price objective for the company. SunTrust Banks initiated coverage on Biogen in a research report on Wednesday, September 20th. They set a “buy” rating and a $360.00 price objective for the company. Bank of America raised their price objective on Biogen from $358.00 to $365.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Morgan Stanley reiterated a “buy” rating on shares of Biogen in a research report on Tuesday, October 17th. Finally, Mizuho upgraded Biogen from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $319.00 to $400.00 in a research report on Tuesday, October 17th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Biogen presently has a consensus rating of “Buy” and an average price target of $353.75.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Biogen by 2.3% in the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after buying an additional 415,099 shares in the last quarter. Vanguard Group Inc. raised its stake in Biogen by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after buying an additional 182,337 shares in the last quarter. State Street Corp raised its stake in Biogen by 1.5% in the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after buying an additional 140,929 shares in the last quarter. FMR LLC raised its stake in Biogen by 10.1% in the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after buying an additional 561,436 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Biogen by 8.0% in the second quarter. Northern Trust Corp now owns 3,017,136 shares of the biotechnology company’s stock worth $818,731,000 after buying an additional 223,371 shares in the last quarter. 88.14% of the stock is owned by institutional investors.
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Biogen Company Profile
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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