The stock of Biogen Inc (NASDAQ:BIIB) is a huge mover today! About 695,003 shares traded hands. Biogen Inc (NASDAQ:BIIB) has risen 13.35% since March 11, 2016 and is uptrending. It has outperformed by 7.89% the S&P500.
The move comes after 6 months negative chart setup for the $64.35B company. It was reported on Oct, 14 by Barchart.com. We have $264.93 PT which if reached, will make NASDAQ:BIIB worth $5.79 billion less.
Analysts await Biogen Inc (NASDAQ:BIIB) to report earnings on October, 19. They expect $4.98 earnings per share, up 11.16% or $0.50 from last year’s $4.48 per share. BIIB’s profit will be $1.10 billion for 14.61 P/E if the $4.98 EPS becomes a reality. After $5.21 actual earnings per share reported by Biogen Inc for the previous quarter, Wall Street now forecasts -4.41% negative EPS growth.
Biogen Inc (NASDAQ:BIIB) Ratings Coverage
Out of 16 analysts covering Biogen Idec Inc. (NASDAQ:BIIB), 10 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 63% are positive. Biogen Idec Inc. has been the topic of 30 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock has “Strong-Buy” rating given by Raymond James on Tuesday, September 1. The stock of Biogen Inc (NASDAQ:BIIB) has “Outperform” rating given on Monday, July 27 by RBC Capital Markets. The stock of Biogen Inc (NASDAQ:BIIB) has “Neutral” rating given on Wednesday, January 20 by Credit Suisse. The stock of Biogen Inc (NASDAQ:BIIB) has “Neutral” rating given on Friday, March 11 by Robert W. Baird. The stock has “Buy” rating given by Jefferies on Wednesday, September 9. Morgan Stanley maintained the stock with “Overweight” rating in Wednesday, August 17 report. Argus Research maintained Biogen Inc (NASDAQ:BIIB) rating on Monday, July 27. Argus Research has “Buy” rating and $360 price target. The stock has “Market Perform” rating given by Leerink Swann on Friday, February 5. The firm has “Buy” rating given on Tuesday, August 25 by Cowen & Co. The stock of Biogen Inc (NASDAQ:BIIB) earned “Neutral” rating by Citigroup on Tuesday, June 7.
According to Zacks Investment Research, “Biogen is a leading biopharmaceutical company engaged in the research, development and marketing of targeted therapies for the treatment of cancer, autoimmune and inflammatory diseases. The company owns industry leading brands for the treatment of multiple sclerosis, next-generation treatments for hemophilia, and a deep clinical pipeline ranging from Alzheimer’s disease, lupus nephritis to neuropathic pain.”
Insitutional Activity: The institutional sentiment increased to 1.03 in Q2 2016. Its up 0.04, from 0.99 in 2016Q1. The ratio improved, as 77 funds sold all Biogen Inc shares owned while 300 reduced positions. 83 funds bought stakes while 307 increased positions. They now own 183.84 million shares or 8.46% less from 200.84 million shares in 2016Q1.
Massachusetts Fincl Ma reported 54,834 shares or 0.01% of all its holdings. The Washington-based Fisher Asset Limited Liability Company has invested 0.05% in Biogen Inc (NASDAQ:BIIB). Transamerica Financial Advsr Inc holds 0% or 3 shares in its portfolio. Atlanta Capital Management L L C accumulated 279,624 shares or 0.45% of the stock. Archford Strategies Ltd Llc holds 74 shares or 0.01% of its portfolio. The California-based First Quadrant Ltd Partnership Ca has invested 0.26% in Biogen Inc (NASDAQ:BIIB). Jackson Square Prtn Ltd Co accumulated 2.71 million shares or 3.06% of the stock. Savings Bank Of Montreal Can accumulated 110,460 shares or 0.03% of the stock. Associated Banc holds 0.23% of its portfolio in Biogen Inc (NASDAQ:BIIB) for 14,707 shares. Tiaa Cref Inv Management Ltd Liability Corporation holds 1.39M shares or 0.26% of its portfolio. New Amsterdam Prns Ltd Liability Ny has 1,771 shares for 0.1% of their US portfolio. The Connecticut-based Oracle Inv Mgmt has invested 0.38% in Biogen Inc (NASDAQ:BIIB). Royal Fincl Bank Of Scotland Group Public Limited Liability Co holds 4,051 shares or 0.25% of its portfolio. Tributary Limited Liability Company reported 2,000 shares or 0.07% of all its holdings. Ubs Asset Management Americas Inc reported 1.14M shares or 0.31% of all its holdings.
Insider Transactions: Since May 2, 2016, the stock had 0 insider purchases, and 8 insider sales for $10.44 million net activity. 380 shares were sold by Karaboutis Adriana, worth $118,940. On Tuesday, May 31 SCANGOS GEORGE A sold $1.12 million worth of the stock or 3,855 shares. 27,570 shares were sold by DORSA CAROLINE, worth $8.66 million.
BIIB Company Profile
Biogen Inc., formerly Biogen Idec Inc., incorporated on April 1, 1997, is a biopharmaceutical company. The Firm operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Firm markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis. The Firm also has a collaboration agreement with Genentech, Inc. (Genentech), a member of the Roche Group, with respect to RITUXAN for the treatment of non-Hodgkin’s lymphoma, chronic lymphocytic leukemia (CLL) and other conditions, GAZYVA indicated for the treatment of CLL and follicular lymphoma, and other potential anti-CD20 therapies.
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