Biogen Inc (NASDAQ:BIIB) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 4,118,800 shares, an increase of 8.7% from the June 30th total of 3,788,600 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,570,000 shares, the short-interest ratio is currently 2.6 days.

Shares of BIIB traded up $0.61 during midday trading on Thursday, hitting $227.33. The stock had a trading volume of 21,721 shares, compared to its average volume of 1,357,400. Biogen has a fifty-two week low of $216.12 and a fifty-two week high of $358.41. The stock’s 50-day moving average price is $235.51. The company has a market capitalization of $42.60 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 0.85 and a beta of 0.99. The company has a current ratio of 2.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.49.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, topping the consensus estimate of $7.58 by $1.57. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the company posted $5.80 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that Biogen will post 32.41 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Nuveen Asset Management LLC lifted its position in shares of Biogen by 506.4% in the second quarter. Nuveen Asset Management LLC now owns 1,319,080 shares of the biotechnology company’s stock worth $308,493,000 after purchasing an additional 1,101,563 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in shares of Biogen by 7.8% in the second quarter. Peapack Gladstone Financial Corp now owns 3,034 shares of the biotechnology company’s stock worth $710,000 after purchasing an additional 220 shares in the last quarter. Andra AP fonden lifted its position in shares of Biogen by 18.6% in the second quarter. Andra AP fonden now owns 35,100 shares of the biotechnology company’s stock worth $8,209,000 after purchasing an additional 5,500 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Biogen by 4.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,097,770 shares of the biotechnology company’s stock worth $256,735,000 after purchasing an additional 45,881 shares in the last quarter. Finally, OneAscent Financial Services LLC purchased a new stake in shares of Biogen in the second quarter worth approximately $775,000. Institutional investors own 91.11% of the company’s stock.

BIIB has been the topic of several research analyst reports. Citigroup reissued a “neutral” rating on shares of Biogen in a research note on Thursday, May 23rd. Oppenheimer set a $290.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Sunday, May 5th. Argus reissued a “hold” rating on shares of Biogen in a research note on Tuesday, May 7th. Cowen reissued a “buy” rating and set a $275.00 target price on shares of Biogen in a research note on Tuesday, July 30th. Finally, Standpoint Research raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Four research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have given a buy rating to the company. Biogen presently has a consensus rating of “Hold” and a consensus price target of $269.74.

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.

Further Reading: Price-Sales Ratio

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