Investors bought shares of Biogen Inc. (NASDAQ:BIIB) on weakness during trading on Wednesday following insider selling activity. $104.53 million flowed into the stock on the tick-up and $71.53 million flowed out of the stock on the tick-down, for a money net flow of $33.00 million into the stock. Of all stocks tracked, Biogen had the 15th highest net in-flow for the day. Biogen traded down ($1.78) for the day and closed at $309.70Specifically, EVP Adriana Karaboutis sold 380 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $313.00, for a total transaction of $118,940.00. Following the transaction, the executive vice president now owns 7,172 shares of the company’s stock, valued at $2,244,836. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George A. Scangos sold 157 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $280.00, for a total transaction of $43,960.00. Following the transaction, the chief executive officer now directly owns 54,779 shares in the company, valued at approximately $15,338,120. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Several brokerages recently issued reports on BIIB. JPMorgan Chase & Co. reissued a “buy” rating and set a $386.00 price objective on shares of Biogen in a research note on Friday, September 16th. Jefferies Group reissued a “buy” rating and set a $319.00 price objective on shares of Biogen in a research note on Thursday, August 4th. Robert W. Baird reissued a “neutral” rating and set a $284.00 price objective on shares of Biogen in a research note on Wednesday, August 10th. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 price objective on the stock in a research note on Monday, September 12th. Finally, Piper Jaffray Cos. set a $333.00 price target on shares of Biogen and gave the stock a “hold” rating in a research note on Thursday, September 22nd. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $347.34.

The company has a market cap of $67.05 billion, a P/E ratio of 17.87 and a beta of 0.95. The company has a 50 day moving average price of $308.72 and a 200-day moving average price of $279.34.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.69 by $0.52. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $4.22 earnings per share. Analysts anticipate that Biogen Inc. will post $20.08 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Woodstock Corp boosted its stake in Biogen by 0.6% in the third quarter. Woodstock Corp now owns 2,547 shares of the biotechnology company’s stock valued at $797,000 after buying an additional 15 shares during the period. Baystate Wealth Management LLC boosted its stake in Biogen by 0.5% in the third quarter. Baystate Wealth Management LLC now owns 1,019 shares of the biotechnology company’s stock valued at $319,000 after buying an additional 5 shares during the period. North Star Asset Management Inc. purchased a new stake in Biogen during the third quarter valued at $207,000. Boltwood Capital Management boosted its stake in Biogen by 2.7% in the third quarter. Boltwood Capital Management now owns 2,100 shares of the biotechnology company’s stock valued at $657,000 after buying an additional 55 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in Biogen by 28.6% in the third quarter. BNP Paribas Arbitrage SA now owns 152,259 shares of the biotechnology company’s stock valued at $47,662,000 after buying an additional 33,875 shares during the period. Institutional investors own 86.21% of the company’s stock.

Biogen Company Profile

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

5 Day Chart for NASDAQ:BIIB

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