Insider Selling: Biogen Inc. (BIIB) EVP Sells 7,758 Shares of Stock
Biogen Inc. (NASDAQ:BIIB) EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the transaction, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Biogen Inc. (BIIB) traded down 0.18% on Thursday, reaching $281.44. The company’s stock had a trading volume of 1,049,150 shares. The stock has a market capitalization of $59.70 billion, a price-to-earnings ratio of 17.63 and a beta of 0.78. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $307.76. The stock has a 50-day moving average of $268.18 and a 200 day moving average of $273.81.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.23. Biogen had a return on equity of 38.17% and a net margin of 30.17%. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period last year, the firm posted $4.79 EPS. The business’s revenue was up 3.1% on a year-over-year basis. On average, analysts expect that Biogen Inc. will post $20.42 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in BIIB. BlackRock Inc. boosted its stake in shares of Biogen by 2,762.0% in the first 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 in the last quarter. Vanguard Group Inc. raised its stake in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares during the last quarter. State Street Corp raised its stake in Biogen by 2.3% in the first quarter. State Street Corp now owns 9,580,383 shares of the biotechnology company’s stock worth $2,619,469,000 after buying an additional 219,502 shares during the last quarter. Clearbridge Investments LLC raised its stake in Biogen by 4.0% in the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock worth $2,493,871,000 after buying an additional 351,224 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in Biogen by 11.1% in the first quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock worth $803,122,000 after buying an additional 294,308 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on the stock. Leerink Swann set a $300.00 target price on shares of Biogen and gave the stock a “hold” rating in a research note on Monday, April 3rd. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price objective for the company in a research note on Tuesday, June 27th. Deutsche Bank AG assumed coverage on shares of Biogen in a research note on Friday, June 23rd. They issued a “buy” rating and a $315.00 target price for the company. Cowen and Company reiterated a “buy” rating and issued a $338.00 target price on shares of Biogen in a research note on Tuesday, April 25th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $360.00 target price (down from $380.00) on shares of Biogen in a research note on Sunday, April 23rd. Thirteen analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $325.48.
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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