Biogen (NASDAQ:BIIB) Sees Unusually-High Trading Volume – Should You Buy?

Biogen Inc. (NASDAQ:BIIB) shares saw strong trading volume on Monday . 827,895 shares traded hands during trading, a decline of 26% from the previous session’s volume of 1,120,725 shares.The stock last traded at $182.26 and had previously closed at $181.69.

Wall Street Analyst Weigh In

BIIB has been the topic of several research reports. Raymond James reissued a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Barclays reduced their price target on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird lowered their price objective on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Mizuho cut their target price on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Finally, UBS Group lowered their target price on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average target price of $271.39.

Biogen Stock Up 1.6 %

The firm has a market capitalization of $26.89 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.87 and a beta of -0.06. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $195.28 and a 200-day moving average of $210.21.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the company earned $4.02 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, sell-side analysts expect that Biogen Inc. will post 16.14 EPS for the current year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Biogen

A number of institutional investors have recently bought and sold shares of BIIB. Arlington Partners LLC lifted its position in shares of Biogen by 34.3% in the third quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after purchasing an additional 4,902 shares in the last quarter. Duality Advisers LP acquired a new stake in shares of Biogen during the 1st quarter valued at $1,290,000. Tocqueville Asset Management L.P. grew its holdings in shares of Biogen by 924.4% during the 1st quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock valued at $9,962,000 after acquiring an additional 41,690 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Biogen by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock worth $83,337,000 after acquiring an additional 3,380 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Biogen by 235.1% during the first quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after acquiring an additional 10,425 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.