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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Biogen Inc (NASDAQ BIIB) traded up $0.36 during mid-day trading on Wednesday, reaching $336.72. 973,445 shares of the company’s stock were exchanged, compared to its average volume of 1,130,000. 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 Inc has a 1 year low of $244.28 and a 1 year high of $348.84. The company has a market capitalization of $71,210.00, a PE ratio of 20.65, a price-to-earnings-growth ratio of 1.97 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 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 firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the business posted $5.19 earnings per share. The company’s revenue for the quarter 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 added to or reduced their stakes in the business. Waverton Investment Management Ltd boosted its position in Biogen by 6.4% during the fourth quarter. Waverton Investment Management Ltd now owns 290,016 shares of the biotechnology company’s stock worth $92,390,000 after purchasing an additional 17,414 shares during the period. DnB Asset Management AS boosted its position in Biogen by 0.8% during the fourth quarter. DnB Asset Management AS now owns 43,019 shares of the biotechnology company’s stock worth $13,705,000 after purchasing an additional 326 shares during the period. QUANTRES ASSET MANAGEMENT Ltd boosted its position in Biogen by 70.0% during the fourth quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 3,400 shares of the biotechnology company’s stock worth $1,083,000 after purchasing an additional 1,400 shares during the period. Atlantic Trust Group LLC boosted its position in Biogen by 5.3% during the third quarter. Atlantic Trust Group LLC now owns 16,692 shares of the biotechnology company’s stock worth $5,226,000 after purchasing an additional 844 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in Biogen by 3.4% during the third quarter. Parametric Portfolio Associates LLC now owns 743,537 shares of the biotechnology company’s stock worth $232,816,000 after purchasing an additional 24,415 shares during the period. 88.11% of the stock is owned by hedge funds and other institutional investors.
BIIB has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a “hold” rating and issued a $321.00 price objective on shares of Biogen in a report on Tuesday, December 5th. Piper Jaffray Companies reiterated a “buy” rating and issued a $390.00 price objective on shares of Biogen in a report on Monday, December 18th. SunTrust Banks reiterated a “buy” rating and issued a $354.00 price objective on shares of Biogen in a report on Tuesday, October 24th. Canaccord Genuity initiated coverage on shares of Biogen in a report on Friday, October 27th. They issued a “hold” rating and a $340.00 price objective on the stock. Finally, BMO Capital Markets upgraded shares of Biogen from a “market perform” rating to an “outperform” rating and set a $377.00 price objective on the stock in a report on Wednesday, October 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $350.13.
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.