Biogen Inc. (NASDAQ:BIIB – Get Rating) insider Priya Singhal sold 568 shares of the stock in a transaction on Tuesday, March 28th. The shares were sold at an average price of $270.06, for a total transaction of $153,394.08. Following the transaction, the insider now directly owns 2,842 shares in the company, valued at $767,510.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Biogen Stock Up 1.1 %
Shares of NASDAQ:BIIB opened at $278.03 on Friday. The company has a market capitalization of $40.17 billion, a PE ratio of 13.28, a P/E/G ratio of 2.32 and a beta of 0.19. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 0.47. Biogen Inc. has a twelve month low of $187.16 and a twelve month high of $311.88. The firm has a 50 day simple moving average of $275.66 and a 200-day simple moving average of $273.68.
Biogen (NASDAQ:BIIB – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The biotechnology company reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.57. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.44 billion. Biogen had a net margin of 29.95% and a return on equity of 20.96%. The company’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.39 EPS. On average, equities analysts predict that Biogen Inc. will post 15.53 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently commented on BIIB shares. StockNews.com assumed coverage on shares of Biogen in a research report on Thursday, March 16th. They issued a “strong-buy” rating for the company. UBS Group raised their price objective on shares of Biogen from $337.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Morgan Stanley raised their price objective on shares of Biogen from $345.00 to $351.00 and gave the company an “overweight” rating in a research note on Thursday, February 16th. HC Wainwright reissued a “buy” rating and issued a $325.00 price objective on shares of Biogen in a research note on Thursday, March 23rd. Finally, Royal Bank of Canada raised their price objective on shares of Biogen from $335.00 to $350.00 in a research note on Monday, March 13th. Six equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $319.00.
Hedge Funds Weigh In On Biogen
A number of institutional investors have recently modified their holdings of BIIB. Raymond James Trust N.A. increased its holdings in shares of Biogen by 16.4% in the 1st quarter. Raymond James Trust N.A. now owns 3,294 shares of the biotechnology company’s stock valued at $693,000 after acquiring an additional 464 shares during the period. Cibc World Market Inc. increased its holdings in shares of Biogen by 39.9% in the 1st quarter. Cibc World Market Inc. now owns 15,244 shares of the biotechnology company’s stock valued at $3,210,000 after acquiring an additional 4,349 shares during the period. Vanguard Group Inc. increased its holdings in shares of Biogen by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after acquiring an additional 183,285 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Biogen by 15.3% in the 1st quarter. Baird Financial Group Inc. now owns 89,722 shares of the biotechnology company’s stock valued at $18,896,000 after acquiring an additional 11,882 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Biogen by 10.7% in the 1st quarter. Brown Brothers Harriman & Co. now owns 5,938 shares of the biotechnology company’s stock valued at $1,251,000 after acquiring an additional 573 shares during the period. 84.40% of the stock is owned by institutional investors and hedge funds.
About Biogen
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. Its products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA, ADUHELM for the treatment of Alzheimer’s disease, and FUMADERM for the treatment of severe plaque psoriasis.
Further Reading
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