Biogen Breaks Above 200-Day Moving Average - Bullish for BIIB

Claudine Rigal
Juillet 18, 2017

In recent trading action Biogen Inc. Thompson Siegel & Walmsley LLC now owns 408 shares of the biotechnology company's stock worth $116,000 after buying an additional 12 shares in the last quarter. Burney Co.'s holdings in Biogen were worth $3,025,000 at the end of the most recent quarter.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC raised its position in shares of Biogen by 4.0% in the first quarter. BlackRock Inc. raised its position in shares of Biogen by 2,762.0% in the first quarter. Capital Guardian Trust Co. now owns 359 shares of the biotechnology company's stock valued at $102,000 after buying an additional 203 shares during the last quarter. Wrapmanager Inc. raised its position in Biogen by 7.7% in the first quarter.

Biogen Inc. (NASDAQ:BIIB) has received a consensus recommendation of "Buy" from the thirty ratings firms that are now covering the stock, MarketBeat.com reports. Capital Analysts LLC increased its stake in shares of Biogen by 1.4% in the fourth quarter. Wrapmanager Inc. now owns 5,525 shares of the biotechnology company's stock worth $1,511,000 after buying an additional 396 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Biogen by 3.0% in the fourth quarter. Biogen Inc. has a one year low of $234.11 and a one year high of $307.76.

Biogen (NASDAQ BIIB) traded up 0.66% during midday trading on Thursday, reaching $282.65. 1,531,778 shares of the company were exchanged. Biogen Inc. The stock's 50-day moving average is $259.24 and its 200-day moving average is $274.78. The stock has a market cap of $59.95 billion, a price-to-earnings ratio of 17.70 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $4.97 by $0.23.

For a total return analysis, there is the 21.00% return on equity and the 29.50% return on assets to consider. The business had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.73 billion. During the same quarter in the prior year, the company earned $4.79 EPS. Zooming in closer, company stock has been 3.14% for the quarter, 10.83% over the past month, and 3.32% over the past week. Biogen presently has an average rating of Buy and a consensus target price of $327.72.

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Several research firms have recently issued reports on BIIB. Argus Research maintained it with "Buy" rating and $360 target in Monday, July 27 report. Piper Jaffray Companies set a $442.00 target price on shares of Biogen and gave the company a "buy" rating in a research note on Monday, May 15th. Credit Suisse Group reaffirmed a "neutral" rating and set a $296.00 target price on shares of Biogen in a research report on Monday, April 3rd. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $310.00 price objective on shares of Biogen in a research report on Tuesday, April 25th. On September 6 the company was changed to a "Hold" according to a Jefferies report which is down from the previous "Buy" rating.

In other news, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction that occurred on Friday, June 9th. The share price has moved forward from its 20 days moving average, trading at a distance of 2.9% and stays 3.14% away from its 50 days moving average. Following the transaction, the vice president now owns 10,813 shares of the company's stock, valued at $3,135,770. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Alexander J. Denner bought 73,858 shares of the business's stock in a transaction on Thursday, April 27th. The stock was bought at an average price of $271.35 per share, with a total value of $380,432.70. The disclosure for this purchase can be found here.

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