Investors Buy Shares of Biogen (BIIB) on Weakness

Traders bought shares of Biogen Inc (NASDAQ:BIIB) on weakness during trading hours on Friday. $155.52 million flowed into the stock on the tick-up and $77.34 million flowed out of the stock on the tick-down, for a money net flow of $78.18 million into the stock. Of all companies tracked, Biogen had the 13th highest net in-flow for the day. Biogen traded down ($2.03) for the day and closed at $342.41

BIIB has been the topic of several research reports. Citigroup reissued an “outperform” rating and set a $380.00 target price (up previously from $350.00) on shares of Biogen in a research note on Tuesday, January 16th. Mizuho reissued a “buy” rating and set a $400.00 target price on shares of Biogen in a research note on Thursday. Cantor Fitzgerald reissued a “hold” rating and set a $279.00 target price on shares of Biogen in a research note on Tuesday, October 24th. Royal Bank of Canada reissued a “hold” rating and set a $315.00 target price on shares of Biogen in a research note on Thursday, October 5th. Finally, Oppenheimer set a $350.00 target price on Biogen and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $353.75.

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. The stock has a market capitalization of $72,411.84, a PE ratio of 15.86, a PEG ratio of 1.94 and a beta of 0.72.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the company earned $5.19 EPS. Biogen’s revenue for the quarter was up 4.1% compared to the same quarter last year. equities research analysts expect that Biogen Inc will post 22 EPS for the current year.

In other news, Director Robert W. Pangia sold 5,832 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total value of $1,922,518.80. Following the transaction, the director now owns 23,539 shares in the company, valued at approximately $7,759,631.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexander J. Denner acquired 30,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the acquisition, the director now owns 10,029 shares in the company, valued at approximately $3,182,803.44. The disclosure for this purchase can be found here. In the last quarter, insiders bought 31,560 shares of company stock worth $10,020,858. Company insiders own 0.25% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Norinchukin Bank The grew its stake in Biogen by 2.9% during the 2nd quarter. Norinchukin Bank The now owns 25,814 shares of the biotechnology company’s stock worth $7,005,000 after buying an additional 725 shares during the last quarter. Captrust Financial Advisors purchased a new position in Biogen during the 2nd quarter worth approximately $324,000. Courier Capital LLC grew its stake in Biogen by 17.1% during the 2nd quarter. Courier Capital LLC now owns 1,648 shares of the biotechnology company’s stock worth $447,000 after buying an additional 241 shares during the last quarter. Comerica Securities Inc. grew its stake in Biogen by 9.5% during the 2nd quarter. Comerica Securities Inc. now owns 1,126 shares of the biotechnology company’s stock worth $306,000 after buying an additional 98 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. grew its stake in Biogen by 0.5% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 216,948 shares of the biotechnology company’s stock worth $58,871,000 after buying an additional 1,072 shares during the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.

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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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