Price Action to Note: Will Biogen Inc Go Down Anytime Soon?

Price Action to Note: Will Biogen Inc Go Down Anytime Soon?

The stock of Biogen Inc (NASDAQ:BIIB) is a huge mover today! About 1.13 million shares traded hands. Biogen Inc (NASDAQ:BIIB) has risen 4.28% since April 5, 2016 and is uptrending. It has outperformed by 2.33% the S&P500.
The move comes after 8 months positive chart setup for the $64.45B company. It was reported on Nov, 7 by Barchart.com. We have $465.08 PT which if reached, will make NASDAQ:BIIB worth $36.74B more.

Biogen Inc (NASDAQ:BIIB) Ratings Coverage

Out of 16 analysts covering Biogen Idec Inc. (NASDAQ:BIIB), 10 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 63% are positive. Biogen Idec Inc. has been the topic of 30 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Jefferies initiated Biogen Inc (NASDAQ:BIIB) rating on Wednesday, September 9. Jefferies has “Buy” rating and $348 price target. The stock of Biogen Inc (NASDAQ:BIIB) has “Buy” rating given on Thursday, February 25 by Citigroup. The stock of Biogen Inc (NASDAQ:BIIB) has “Hold” rating given on Tuesday, September 6 by Jefferies. On Friday, March 11 the stock rating was maintained by Robert W. Baird with “Neutral”. The firm has “Buy” rating by Cowen & Co given on Tuesday, August 25. The firm earned “Overweight” rating on Thursday, November 5 by Piper Jaffray. The firm has “Strong Buy” rating by Raymond James given on Tuesday, August 2. The stock of Biogen Inc (NASDAQ:BIIB) earned “Hold” rating by Jefferies on Wednesday, October 5. The stock of Biogen Inc (NASDAQ:BIIB) earned “Outperform” rating by Wells Fargo on Friday, December 4. Raymond James initiated Biogen Inc (NASDAQ:BIIB) on Tuesday, September 1 with “Strong-Buy” rating.

According to Zacks Investment Research, “Biogen is a leading biopharmaceutical company engaged in the research, development and marketing of targeted therapies for the treatment of cancer, autoimmune and inflammatory diseases. The company owns industry leading brands for the treatment of multiple sclerosis, next-generation treatments for hemophilia, and a deep clinical pipeline ranging from Alzheimer’s disease, lupus nephritis to neuropathic pain.”

Insitutional Activity: The institutional sentiment increased to 1.03 in Q2 2016. Its up 0.04, from 0.99 in 2016Q1. The ratio improved, as 77 funds sold all Biogen Inc shares owned while 300 reduced positions. 83 funds bought stakes while 307 increased positions. They now own 183.84 million shares or 8.46% less from 200.84 million shares in 2016Q1.
Of Vermont holds 0.05% or 1,503 shares in its portfolio. Legal & General Group Public Ltd Com last reported 992,538 shares in the company. Factory Mutual Company has 104,700 shares for 0.33% of their US portfolio. Moreover, Global Thematic Prtn Ltd Limited Liability Company has 0.67% invested in Biogen Inc (NASDAQ:BIIB) for 111,602 shares. Hillsdale Inv Mngmt holds 0.11% or 1,530 shares in its portfolio. Security Tru Communication, a West Virginia-based fund reported 217 shares. Mitsubishi Ufj Tru Bk Corp last reported 0.27% of its portfolio in the stock. Eaton Vance Mgmt has 435,620 shares for 0.31% of their US portfolio. Rhenman Partners Asset Management Ab reported 80,000 shares or 3.44% of all its holdings. Virginia Retirement Sys Et Al has 84,400 shares for 0.3% of their US portfolio. Schwab Charles Mngmt last reported 648,540 shares in the company. Lazard Asset Mgmt Llc has 0.01% invested in the company for 26,544 shares. Qs Invsts Ltd Limited Liability Company holds 67,674 shares or 0.14% of its portfolio. Macquarie Gru Ltd reported 907,353 shares or 0.43% of all its holdings. Inv Prtn Oh Adv holds 0.24% or 1,000 shares in its portfolio.

Insider Transactions: Since May 25, 2016, the stock had 0 insider buys, and 7 insider sales for $10.31 million net activity. $43,960 worth of Biogen Inc (NASDAQ:BIIB) shares were sold by SCANGOS GEORGE A. On Tuesday, October 4 the insider Karaboutis Adriana sold $81,728. $8.66 million worth of Biogen Inc (NASDAQ:BIIB) shares were sold by DORSA CAROLINE.

More important recent Biogen Inc (NASDAQ:BIIB) news were published by: Fool.com which released: “Better Buy: Biogen Inc. vs. Gilead Sciences, Inc.” on October 18, 2016, also Fool.com published article titled: “Biogen Inc. Working With What It’s Got as It Looks to Diversify”, Nasdaq.com published: “Biogen Inc. Q3 Profit Rises 10%” on October 26, 2016. More interesting news about Biogen Inc (NASDAQ:BIIB) was released by: Prnewswire.com and their article: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of …” with publication date: October 27, 2016.

BIIB Company Profile

Biogen Inc., formerly Biogen Idec Inc., incorporated on April 1, 1997, is a biopharmaceutical company. The Firm operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Firm markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis. The Firm 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 potential anti-CD20 therapies.

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