Biogen (NASDAQ:BIIB) Sees Strong Trading Volume

Biogen Inc. (NASDAQ:BIIB - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 904,201 shares were traded during mid-day trading, a decline of 22% from the previous session's volume of 1,159,178 shares.The stock last traded at $204.63 and had previously closed at $193.18.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of research analyst reports. Robert W. Baird reduced their target price on shares of Biogen from $333.00 to $316.00 and set an "outperform" rating for the company in a research note on Wednesday, February 14th. JPMorgan Chase & Co. reduced their price objective on shares of Biogen from $270.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, April 11th. William Blair restated an "outperform" rating on shares of Biogen in a research note on Monday, April 1st. BMO Capital Markets reduced their price objective on shares of Biogen from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Wednesday, February 14th. Finally, Piper Sandler reduced their price objective on shares of Biogen from $350.00 to $325.00 and set an "overweight" rating for the company in a research note on Wednesday, February 14th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $295.35.

Biogen Stock Performance

The stock's 50-day simple moving average is $213.18 and its 200-day simple moving average is $234.39. The stock has a market cap of $29.36 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 1.85 and a beta of -0.02. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the company earned $4.05 EPS. Analysts forecast that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now owns 20,629 shares of the company's stock, valued at approximately $4,590,777.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 882 shares of company stock worth $202,030. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Biogen

A number of hedge funds have recently added to or reduced their stakes in BIIB. OFI Invest Asset Management acquired a new stake in Biogen in the third quarter valued at approximately $26,000. Livelsberger Financial Advisory acquired a new stake in Biogen in the fourth quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in Biogen in the first quarter valued at approximately $27,000. Gladius Capital Management LP acquired a new stake in Biogen in the third quarter valued at approximately $28,000. Finally, KB Financial Partners LLC boosted its position in Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company's stock valued at $31,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

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.