Investors Buy Shares of Biogen Inc. (BIIB) on Weakness

Investors purchased shares of Biogen Inc. (NASDAQ:BIIB) on weakness during trading on Tuesday. $113.29 million flowed into the stock on the tick-up and $81.23 million flowed out of the stock on the tick-down, for a money net flow of $32.06 million into the stock. Of all companies tracked, Biogen had the 23rd highest net in-flow for the day. Biogen traded down ($6.02) for the day and closed at $309.69

A number of analysts have recently issued reports on BIIB shares. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price objective on the stock. in a research note on Tuesday, August 29th. Cantor Fitzgerald reiterated a “hold” rating and set a $279.00 price objective on shares of Biogen in a research note on Tuesday, October 24th. Royal Bank Of Canada reiterated a “hold” rating and set a $315.00 price objective on shares of Biogen in a research note on Thursday, October 5th. Canaccord Genuity started coverage on shares of Biogen in a research note on Friday, October 27th. They set a “hold” rating and a $340.00 price objective on the stock. Finally, Leerink Swann reiterated a “market perform” rating and set a $338.00 price objective (up previously from $304.00) on shares of Biogen in a research note on Wednesday, July 26th. Twelve analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Biogen presently has an average rating of “Buy” and an average target price of $341.89.

The firm has a market cap of $66,765.37, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.97 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the company earned $5.19 EPS. Biogen’s revenue was up 4.1% on a year-over-year basis. research analysts anticipate that Biogen Inc. will post 22.03 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of BIIB. Pathstone Family Office LLC acquired a new stake in Biogen in the 1st quarter valued at about $102,000. Prentiss Smith & Co. Inc. lifted its holdings in Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after acquiring an additional 50 shares during the last quarter. Atlantic Trust LLC acquired a new stake in Biogen in the 2nd quarter valued at about $114,000. Independent Portfolio Consultants Inc. lifted its holdings in Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 219 shares during the last quarter. Finally, Horan Capital Advisors LLC. acquired a new stake in Biogen in the 3rd quarter valued at about $128,000. 88.35% of the stock is owned by institutional investors.

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Biogen Company Profile

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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