Notable Reporting: Will Biogen Inc Go Down Anytime Soon?

Notable Reporting: Will Biogen Inc Go Down Anytime Soon?

The stock of Biogen Inc (NASDAQ:BIIB) is a huge mover today! About 426,409 shares traded hands. Biogen Inc (NASDAQ:BIIB) has risen 7.84% since April 26, 2016 and is uptrending. It has outperformed by 2.58% the S&P500.
The move comes after 8 months positive chart setup for the $65.73B company. It was reported on Nov, 29 by Barchart.com. We have $318.66 PT which if reached, will make NASDAQ:BIIB worth $3.29B more.

Analysts await Biogen Inc (NASDAQ:BIIB) to report earnings on January, 25. They expect $5.01 earnings per share, up 11.33% or $0.51 from last year’s $4.5 per share. BIIB’s profit will be $1.09 billion for 15.14 P/E if the $5.01 EPS becomes a reality. After $5.19 actual earnings per share reported by Biogen Inc for the previous quarter, Wall Street now forecasts -3.47% negative EPS growth.

Biogen Inc (NASDAQ:BIIB) Ratings Coverage

Out of 18 analysts covering Biogen Idec Inc. (NASDAQ:BIIB), 13 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 72% are positive. Biogen Idec Inc. has been the topic of 34 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock of Biogen Inc (NASDAQ:BIIB) has “Buy” rating given on Thursday, February 25 by Citigroup. The rating was maintained by Cowen & Co with “Buy” on Tuesday, August 25. Wells Fargo maintained Biogen Inc (NASDAQ:BIIB) on Friday, December 4 with “Outperform” rating. The rating was maintained by Raymond James with “Strong Buy” on Tuesday, August 2. The firm has “Buy” rating by Jefferies given on Wednesday, September 9. Leerink Swann initiated Biogen Inc (NASDAQ:BIIB) on Friday, February 5 with “Market Perform” rating. The company was maintained on Thursday, October 22 by H.C. Wainwright. The stock has “Neutral” rating given by Credit Suisse on Wednesday, January 20. The stock of Biogen Inc (NASDAQ:BIIB) has “Outperform” rating given on Wednesday, October 7 by RBC Capital Markets. On Monday, July 27 the stock rating was maintained by Argus Research with “Buy”.

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 decreased to 1 in 2016 Q2. Its down 0.03, from 1.03 in 2016Q1. The ratio dived, 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.
Cfo4life Limited Partnership reported 1,423 shares or 0.29% of all its holdings. Envestnet Asset Mgmt accumulated 44,156 shares or 0.04% of the stock. Jackson Square Ltd Llc has invested 3.06% of its portfolio in Biogen Inc (NASDAQ:BIIB). Dnb Asset Mgmt As has 39,898 shares for 0% of their US portfolio. Macquarie Grp Incorporated Limited accumulated 0.43% or 907,353 shares. Tnb has invested 1.28% of its portfolio in Biogen Inc (NASDAQ:BIIB). Regions Financial last reported 4,937 shares in the company. Moreno Evelyn V last reported 11,995 shares in the company. Royal Bancorp Of Canada holds 0.04% of its portfolio in Biogen Inc (NASDAQ:BIIB) for 288,154 shares. M&R Management Inc has 0.02% invested in the company for 300 shares. Ledyard Bancshares holds 9,500 shares or 0.41% of its portfolio. The Montana-based First Interstate Bank & Trust has invested 0.02% in Biogen Inc (NASDAQ:BIIB). Rowland & Commerce Investment Counsel Adv accumulated 0% or 506 shares. Mitchell Management holds 2.05% of its portfolio in Biogen Inc (NASDAQ:BIIB) for 21,191 shares. Ashfield Prtn Ltd Liability holds 0.76% of its portfolio in Biogen Inc (NASDAQ:BIIB) for 39,262 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 5 selling transactions for $9.15 million net activity. Another trade for 27,570 shares valued at $8.66 million was sold by DORSA CAROLINE. On Thursday, July 21 SCANGOS GEORGE A sold $43,960 worth of the stock or 157 shares. Karaboutis Adriana had sold 262 shares worth $81,728.

More recent Biogen Inc (NASDAQ:BIIB) news were published by: Fool.com which released: “Better Buy: Biogen Inc. vs. Celgene Corporation” on November 15, 2016. Also Fool.com published the news titled: “Why Biogen Inc. Stock Lost 10.5% of Its Value In October” on November 09, 2016. Etfdailynews.com‘s news article titled: “Biogen Shares Hammered On Ely Lilly’s Drug Failure” with publication date: November 23, 2016 was also an interesting one.

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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