Biogen Inc. (NASDAQ:BIIB) Short Interest Update

by · The Markets Daily

Biogen Inc. (NASDAQ:BIIB – Get Free Report) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 3,070,000 shares, an increase of 7.7% from the September 30th total of 2,850,000 shares. Based on an average daily volume of 1,110,000 shares, the short-interest ratio is currently 2.8 days. Approximately 2.1% of the company’s shares are sold short.

Biogen Stock Performance

Shares of BIIB traded down $4.80 during mid-day trading on Thursday, reaching $176.38. 697,048 shares of the company’s stock traded hands, compared to its average volume of 1,127,460. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The business’s 50-day moving average price is $193.92 and its 200-day moving average price is $209.77. The stock has a market capitalization of $25.68 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06. Biogen has a 12 month low of $174.76 and a 12 month high of $268.30.

Biogen (NASDAQ:BIIB – Get Free Report) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. 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 $2.43 billion. During the same quarter in the previous year, the business earned $4.36 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts predict that Biogen will post 16.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Biogen

A number of institutional investors and hedge funds have recently bought and sold shares of BIIB. Plato Investment Management Ltd lifted its stake in shares of Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares during the period. Itau Unibanco Holding S.A. bought a new position in Biogen during the 2nd quarter valued at $33,000. EntryPoint Capital LLC acquired a new position in shares of Biogen during the 1st quarter valued at $36,000. Versant Capital Management Inc increased its position in shares of Biogen by 123.2% during the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 85 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Biogen by 249.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after buying an additional 127 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Robert W. Baird cut their price objective on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $292.00 target price on shares of Biogen in a report on Monday, September 9th. William Blair restated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Mizuho reduced their target price on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $300.00 price target on shares of Biogen in a report on Thursday. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus price target of $263.39.

View Our Latest Stock Analysis on BIIB

Biogen Company Profile

(Get Free Report)

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.

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