Investors Buy Biogen (BIIB) on Weakness

Investors bought shares of Biogen Inc (NASDAQ:BIIB) on weakness during trading hours on Monday. $90.99 million flowed into the stock on the tick-up and $63.84 million flowed out of the stock on the tick-down, for a money net flow of $27.15 million into the stock. Of all equities tracked, Biogen had the 7th highest net in-flow for the day. Biogen traded down ($1.99) for the day and closed at $325.95

BIIB has been the topic of a number of recent analyst reports. Credit Suisse Group raised shares of Biogen from a “neutral” rating to an “outperform” rating and raised their price target for the company from $321.00 to $385.00 in a research report on Wednesday. Piper Jaffray Companies reissued a “buy” rating and set a $390.00 price target on shares of Biogen in a research report on Monday. Oppenheimer set a $350.00 price target on shares of Biogen and gave the company a “buy” rating in a research report on Monday, December 4th. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price target on the stock. in a research report on Wednesday, August 23rd. Finally, Sanford C. Bernstein set a $318.00 price target on shares of Biogen and gave the company a “buy” rating in a research report on Tuesday, November 28th. Eleven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $347.64.

The firm has a market cap of $68,930.90, a PE ratio of 15.10, a P/E/G ratio of 2.03 and a beta of 0.73. 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 (NASDAQ:BIIB) last announced its quarterly earnings data 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 business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.19 earnings per share. analysts forecast that Biogen Inc will post 22.03 EPS for the current year.

In other Biogen news, Director Alexander J. Denner purchased 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were bought at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the transaction, the director now directly owns 10,029 shares in the company, valued at approximately $3,182,803.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in shares of Biogen in the third quarter valued at approximately $123,494,000. Botty Investors LLC grew its stake in Biogen by 75.0% during the second quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock valued at $3,048,000 after acquiring an additional 4,812 shares in the last quarter. BB&T Securities LLC grew its stake in Biogen by 25.0% during the second quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock valued at $3,524,000 after acquiring an additional 2,598 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Biogen by 9.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,948 shares of the biotechnology company’s stock valued at $1,862,000 after acquiring an additional 520 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in Biogen by 18.6% during the second quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock valued at $7,591,000 after acquiring an additional 4,389 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Investors Buy Biogen (BIIB) on Weakness” was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at https://sportsperspectives.com/2017/12/20/investors-buy-biogen-biib-on-weakness.html.

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).

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply