Insider Selling: Biogen Idec CFO Unloads 26,785 Shares of Stock (BIIB)
Biogen Idec (NASDAQ:BIIB) CFO Paul Clancy unloaded 26,785 shares of Biogen Idec stock on the open market in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $245.00, for a total value of $6,562,325.00. Following the sale, the chief financial officer now directly owns 7,087 shares of the company’s stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on BIIB shares. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Biogen Idec (NASDAQ:BIIB) from $220.00 to $240.00 in a research note to investors on Wednesday. Separately, analysts at Zacks upgraded shares of Biogen Idec (NASDAQ:BIIB) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday. They now have a $288.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Biogen Idec (NASDAQ:BIIB) in a research note to investors on Tuesday.
Nine investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $250.23.
Shares of Biogen Idec (NASDAQ:BIIB) traded up 0.66% on Thursday, hitting $247.98. The stock had a trading volume of 1,396,022 shares. Biogen Idec has a 52-week low of $134.00 and a 52-week high of $246.49. The stock’s 50-day moving average is $220.0 and its 200-day moving average is $211.4. The company has a market cap of $58.938 billion and a price-to-earnings ratio of 36.49.
Biogen Idec (NASDAQ:BIIB) last announced its earnings results on Thursday, July 25th. The company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.37. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. Analysts expect that Biogen Idec will post $8.58 EPS for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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