Company chares are trading at $275.08 marginally over the 50 day moving average of $259.24 and just a bit higher than the 200 day moving average of $274.78. The 50 day moving average went up $15.84 or +6.11% and the 200 day average moved up $0.30. 1,337K shares changed hands in the last trading session. Shares saw a steep decrease in trading volume of 7.59% under the normal average daily volume.
Short traders are more bearish lately as inferred by the increase in short interest. The company experienced a rise in short interest of 23.23% between June 15, 2017 and May 31, 2017. Short interest increased 563,405 over that timeframe. The short-interest ratio increased to 1.9 and the percentage of shorted shares is 0.01% as of May 31.
Here is the rundown on market activity for Biogen Inc. (NASDAQ:BIIB). Brian S. Posner, Director sold $277,840 worth of shares at an average price of $256.31 on Fri the 9th. That brings the Director’s holdings to $1,622,442 per an SEC filing yesterday. Alexander J. Denner, Director disclosed the purchase of 73,858 shares of BIIB stock. The shares were bought on April 27th for an average price of $278.53. The Director now owns $106,915,969 of the stock per the Form 4 SEC filing.
Paul J. Clancy, EVP disclosed the sale of 9,892 shares of (BIIB). The shares were purchased at an average price of $290.00. Clancy now owns $3,135,770 of the stock according to the SEC filing.
Here are a few other firms who have also updated their positions. Fisher Asset Management, LLC trimmed its holdings by shedding 285 shares a decrease of 0.3%. Fisher Asset Management, LLC now holds 109,129 shares with a value of $29,613,000. The total value of its holdings decreased 1.0%. As of the end of the quarter Swedbank had sold 48,930 shares trimming its holdings by 7.8%. The value of the investment in (BIIB) went from $171,531,000 to $156,961,000 decreasing 8.5% quarter over quarter.
As of quarter end Gateway Investment Advisers LLC had acquired a total of 15,260 shares growing its stake by 10.5%. The value in dollars increased from $39,576,000 to $43,418,000 a change of $3,842,000 for the reporting period. As of quarter end Creative Planning had sold a total of 2,713 shares trimming its position 5.6%. The value of the total investment in Biogen Inc. decreased from $13,259,000 to $12,422,000 a change of 6.3% quarter to quarter.
July 11 investment analysts at Morgan Stanley made no change to the company rating of “Equal-Weight” but lowered the price target from $368.00 to $301.00. On June 19 the company was changed to a “Buy” by UBS which is up from the previous “Neutral” rating.
Mizuho began coverage with an initial rating of “Overweight”. On November 7 the company was upgraded to “Outperform” from “Market Perform” by analysts at Leerink Swann.
On November 7 the stock rating was upgraded from “” to “Overweight” in an announcement from PiperJaffray. On September 6 the stock rating was downgraded to “Hold” from “Buy” in a report issued by Jefferies.
The company is trading up by 1.22% since yesterday’s close of $271.76. The P/E ratio is 17.23 and market cap is 58.35B. As of the last earnings report the EPS was $15.97 and is estimated to be $20.47 for the current year with 212,115,000 shares now outstanding. Next quarter’s EPS is forecasted at $5.34 and the next full year EPS is projected to be $22.53.
Biogen Inc., launched on April 1, 1997, is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA). The Company 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 anti-CD20 therapies..