Insider Selling: Biogen Inc. (NASDAQ:BIIB) Insider Sells 2,223 Shares of Stock

Biogen Inc. (NASDAQ:BIIB - Get Free Report) insider Rachid Izzar sold 2,223 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the sale, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Biogen Trading Down 0.4%

NASDAQ:BIIB traded down $0.53 during trading hours on Thursday, hitting $127.94. The company had a trading volume of 629,233 shares, compared to its average volume of 1,442,522. The company has a market capitalization of $18.75 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.02 and a beta of 0.14. The stock has a 50-day moving average price of $128.83 and a 200 day moving average price of $133.65. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $236.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the firm posted $3.67 EPS. The business's quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Biogen

Large investors have recently modified their holdings of the stock. Lee Danner & Bass Inc. purchased a new position in shares of Biogen in the 4th quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new position in Biogen in the 1st quarter worth about $26,000. Vision Financial Markets LLC purchased a new position in Biogen in the 1st quarter worth about $27,000. Greykasell Wealth Strategies Inc. purchased a new position in Biogen in the 1st quarter worth about $27,000. Finally, Colonial Trust Co SC raised its position in Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after buying an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Mizuho dropped their price objective on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Canaccord Genuity Group lowered their price target on shares of Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Oppenheimer set a $205.00 price target on shares of Biogen in a report on Friday, May 2nd. Royal Bank Of Canada set a $213.00 price target on shares of Biogen and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Finally, HSBC downgraded shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price target on the stock. in a report on Monday, April 28th. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Biogen has a consensus rating of "Hold" and a consensus price target of $188.48.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.