Insider Selling: William Young Unloads 15,000 Shares of Biogen Idec Stock (BIIB)
Biogen Idec (NASDAQ:BIIB) Director William Young unloaded 15,000 shares of the company’s stock on the open market in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $285.11, for a total value of $4,276,650.00. Following the completion of the sale, the director now directly owns 18,509 shares in the company, valued at approximately $5,277,101. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
BIIB has been the subject of a number of recent research reports. Analysts at Nomura initiated coverage on shares of Biogen Idec in a research note to investors on Wednesday. They set a “buy” rating and a $368.00 price target on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of Biogen Idec to $338.00 in a research note to investors on Monday. Finally, analysts at RBC Capital raised their price target on shares of Biogen Idec from $275.00 to $325.00 in a research note to investors on Friday, December 20th. They now have an “outperform” rating on the stock. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $277.38.
Shares of Biogen Idec (NASDAQ:BIIB) traded down 0.09% on Thursday, hitting $289.75. The stock had a trading volume of 1,318,682 shares. Biogen Idec has a 1-year low of $139.72 and a 1-year high of $298.82. The stock’s 50-day moving average is $280.7 and its 200-day moving average is $241.3. The company has a market cap of $68.442 billion and a price-to-earnings ratio of 40.74.
Biogen Idec (NASDAQ:BIIB) last announced its earnings results on Monday, October 28th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.25. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was up 31.9% on a year-over-year basis. On average, analysts predict that Biogen Idec will post $8.87 earnings per share for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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