Biogen Inc (NASDAQ:BIIB) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 4,118,800 shares, a growth of 8.7% from the June 30th total of 3,788,600 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 1,570,000 shares, the short-interest ratio is presently 2.6 days.
BIIB traded down $5.23 on Wednesday, reaching $228.00. The company’s stock had a trading volume of 20,900 shares, compared to its average volume of 1,871,920. The firm has a market cap of $42.14 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 0.86 and a beta of 0.99. Biogen has a 1 year low of $216.12 and a 1 year high of $358.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.22 and a current ratio of 2.46. The firm has a 50 day moving average of $235.76.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $1.57. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.48 billion. Biogen had a return on equity of 44.89% and a net margin of 37.62%. Biogen’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.80 earnings per share. Research analysts anticipate that Biogen will post 32.41 earnings per share for the current year.
BIIB has been the subject of several analyst reports. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Biogen in a research report on Friday, July 26th. Mizuho reaffirmed a “hold” rating on shares of Biogen in a research report on Thursday, July 25th. Citigroup reaffirmed a “neutral” rating on shares of Biogen in a research report on Thursday, May 23rd. Oppenheimer set a $290.00 target price on Biogen and gave the stock a “buy” rating in a research report on Sunday, May 5th. Finally, Barclays decreased their target price on Biogen from $250.00 to $245.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $269.74.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Weaver Consulting Group bought a new position in Biogen during the 1st quarter worth approximately $28,000. Cornerstone Advisors Inc. lifted its holdings in Biogen by 6.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,427 shares of the biotechnology company’s stock worth $334,000 after buying an additional 84 shares during the last quarter. Accident Compensation Corp bought a new position in Biogen during the 1st quarter worth approximately $284,000. Piedmont Investment Advisors Inc. lifted its holdings in Biogen by 41.5% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 23,763 shares of the biotechnology company’s stock worth $5,617,000 after buying an additional 6,966 shares during the last quarter. Finally, Fosun International Ltd lifted its holdings in Biogen by 20.0% during the 1st quarter. Fosun International Ltd now owns 2,400 shares of the biotechnology company’s stock worth $559,000 after buying an additional 400 shares during the last quarter. 91.11% of the stock is owned by hedge funds and other institutional investors.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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