Investors Buy Shares of Biogen Inc. (BIIB) on Weakness
Investors bought shares of Biogen Inc. (NASDAQ:BIIB) on weakness during trading on Tuesday. $126.86 million flowed into the stock on the tick-up and $82.41 million flowed out of the stock on the tick-down, for a money net flow of $44.45 million into the stock. Of all equities tracked, Biogen had the 5th highest net in-flow for the day. Biogen traded down ($0.40) for the day and closed at $309.06
BIIB has been the topic of a number of recent research reports. Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price on the stock. in a research report on Tuesday, August 29th. ValuEngine downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird reissued a “hold” rating and set a $290.00 target price on shares of Biogen in a research report on Friday, August 25th. SunTrust Banks, Inc. reissued a “buy” rating and set a $354.00 target price on shares of Biogen in a research report on Tuesday, October 24th. Finally, Mizuho reissued a “neutral” rating and set a $319.00 target price (up from $274.00) on shares of Biogen in a research report on Wednesday, September 13th. Twelve investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $341.89.
The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $65,359.05, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.93 and a beta of 0.72.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.05 billion. During the same quarter in the previous year, the business earned $5.19 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. equities research analysts anticipate that Biogen Inc. will post 22.03 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Renaissance Technologies LLC grew its holdings in Biogen by 20.0% during the 1st quarter. Renaissance Technologies LLC now owns 848,961 shares of the biotechnology company’s stock worth $232,123,000 after acquiring an additional 141,466 shares during the period. Blue Jay Capital Management LLC acquired a new position in shares of Biogen in the 1st quarter valued at $12,665,000. BlackRock Inc. grew its holdings in shares of Biogen by 2,762.0% in the 1st quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock valued at $4,837,418,000 after buying an additional 17,074,075 shares during the period. KCG Holdings Inc. grew its holdings in shares of Biogen by 447.1% in the 1st quarter. KCG Holdings Inc. now owns 13,426 shares of the biotechnology company’s stock valued at $3,671,000 after buying an additional 10,972 shares during the period. Finally, United Capital Financial Advisers LLC grew its holdings in shares of Biogen by 18.9% in the 1st quarter. United Capital Financial Advisers LLC now owns 38,744 shares of the biotechnology company’s stock valued at $10,593,000 after buying an additional 6,156 shares during the period. 88.28% of the stock is owned by hedge funds and other institutional investors.
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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).
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