Biogen Inc. (NASDAQ:BIIB – Get Rating) EVP Susan H. Alexander sold 5,532 shares of the firm’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $280.70, for a total transaction of $1,552,832.40. Following the transaction, the executive vice president now owns 39,396 shares in the company, valued at approximately $11,058,457.20. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Biogen Price Performance
NASDAQ:BIIB opened at $284.29 on Friday. The firm has a market cap of $40.94 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 2.08 and a beta of 0.17. Biogen Inc. has a 12 month low of $187.16 and a 12 month high of $285.35. The company has a quick ratio of 1.68, a current ratio of 2.49 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $231.92 and its two-hundred day moving average price is $216.40.
Biogen (NASDAQ:BIIB – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The biotechnology company reported $4.77 EPS for the quarter, beating analysts’ consensus estimates of $4.16 by $0.61. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.47 billion. Biogen had a net margin of 27.64% and a return on equity of 21.31%. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.77 earnings per share. On average, equities analysts anticipate that Biogen Inc. will post 16.93 EPS for the current fiscal year.
Hedge Funds Weigh In On Biogen
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Primecap Management Co. CA boosted its position in Biogen by 0.5% in the first quarter. Primecap Management Co. CA now owns 15,834,606 shares of the biotechnology company’s stock valued at $3,334,768,000 after buying an additional 77,201 shares in the last quarter. BlackRock Inc. raised its stake in shares of Biogen by 2.8% in the first quarter. BlackRock Inc. now owns 14,121,097 shares of the biotechnology company’s stock worth $2,973,904,000 after acquiring an additional 384,143 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Biogen by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock worth $2,468,356,000 after acquiring an additional 183,285 shares during the last quarter. State Street Corp raised its stake in shares of Biogen by 2.8% in the first quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock worth $1,518,196,000 after acquiring an additional 197,400 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Biogen by 1.1% in the first quarter. Wellington Management Group LLP now owns 6,249,526 shares of the biotechnology company’s stock worth $1,316,151,000 after acquiring an additional 65,071 shares during the last quarter. 83.45% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently commented on BIIB shares. TheStreet upgraded shares of Biogen from a “c+” rating to a “b-” rating in a report on Friday, September 30th. Jefferies Financial Group lifted their target price on shares of Biogen from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Monday, October 24th. Royal Bank of Canada lifted their target price on shares of Biogen from $310.00 to $331.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group upgraded shares of Biogen from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $220.00 to $370.00 in a report on Wednesday. Finally, Piper Sandler lifted their target price on shares of Biogen from $200.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, September 28th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average price target of $291.36.
Biogen Company Profile
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis, SPINRAZA for the treatment of spinal muscular atrophy, and FUMADERM for the treatment of severe plaque psoriasis.
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