Biogen Inc Is a Buy; Strong Momentum from Option Traders

 Biogen Inc Is a Buy; Strong Momentum from Option Traders

In today’s session Biogen Inc (BIIB) registered an unusually high (1,934) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious BIIB increase. With 1,934 contracts traded and 27754 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: BIIB170120C00300000 closed last at: $21.8 or 32.3% down. About 102,567 shares traded hands. Biogen Inc (NASDAQ:BIIB) has risen 8.22% since April 22, 2016 and is uptrending. It has outperformed by 2.81% the S&P500.

Analysts await Biogen Inc (NASDAQ:BIIB) to report earnings on January, 25. They expect $5.01 earnings per share, up 11.33% or $0.51 from last year’s $4.5 per share. BIIB’s profit will be $1.05B for 15.20 P/E if the $5.01 EPS becomes a reality. After $5.19 actual earnings per share reported by Biogen Inc for the previous quarter, Wall Street now forecasts -3.47% negative EPS growth.

Biogen Inc (NASDAQ:BIIB) Ratings Coverage

Out of 18 analysts covering Biogen Idec Inc. (NASDAQ:BIIB), 13 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 72% are positive. $450 is the highest target while $268 is the lowest. The $356.20 average target is 17.04% above today’s ($304.35) stock price. Biogen Idec Inc. has been the topic of 34 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The rating was maintained by Jefferies with “Hold” on Wednesday, October 5. The stock has “Strong-Buy” rating given by Raymond James on Tuesday, September 1. The firm has “Neutral” rating by Robert W. Baird given on Monday, July 27. The stock has “Strong Buy” rating given by Raymond James on Tuesday, August 2. The rating was initiated by Jefferies with “Buy” on Wednesday, September 9. The firm has “Buy” rating given on Thursday, October 22 by H.C. Wainwright. Standpoint Research initiated it with “Buy” rating and $360.0 target price in Thursday, January 7 report. Citigroup initiated the stock with “Buy” rating in Thursday, February 25 report. The stock has “Market Perform” rating given by Leerink Swann on Friday, February 5. The stock has “Outperform” rating given by Bernstein on Monday, July 27.

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 decreased to 1 in Q2 2016. Its down 0.03, from 1.03 in 2016Q1. The ratio worsened, 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.
Wexford Lp owns 18,558 shares or 0.78% of their US portfolio. Allianz Asset Mngmt Ag has 849,872 shares for 0.11% of their US portfolio. The New York-based New Amsterdam Prns Limited Liability Company Ny has invested 0.1% in Biogen Inc (NASDAQ:BIIB). Mesirow Invest Mngmt has invested 0.02% of its portfolio in Biogen Inc (NASDAQ:BIIB). Evercore Wealth Management Lc last reported 4,403 shares in the company. Blackrock Institutional Tru Co Na reported 5.82 million shares or 0.23% of all its holdings. Mitsubishi Ufj Trust Banking accumulated 510,836 shares or 0.27% of the stock. Jump Trading Lc holds 0.01% or 1,269 shares in its portfolio. Trillium Asset Ltd Liability Corp accumulated 42,700 shares or 0.68% of the stock. Barrett Asset Mngmt Limited Co reported 104 shares or 0% of all its holdings. Wms Prns Ltd Com reported 941 shares or 0.03% of all its holdings. Sphera Funds Mgmt has invested 3.17% of its portfolio in Biogen Inc (NASDAQ:BIIB). Clearbridge Ltd Llc holds 2.05% or 426,870 shares in its portfolio. Loomis Sayles & Commerce L P accumulated 0.06% or 93,257 shares. Bridgeway Cap Mgmt Inc holds 0% of its portfolio in Biogen Inc (NASDAQ:BIIB) for 900 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 6 insider sales for $10.26 million net activity. Karaboutis Adriana had sold 380 shares worth $118,940. SCANGOS GEORGE A sold $43,960 worth of Biogen Inc (NASDAQ:BIIB) on Thursday, July 21. On Thursday, September 22 DORSA CAROLINE sold $8.66M worth of the stock or 27,570 shares.

Biogen Inc., formerly Biogen Idec Inc., is a biopharmaceutical company. The company has a market cap of $63.68 billion. The Firm operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. It has a 17.21 P/E ratio. The Firm markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis , ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

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.

More notable recent Biogen Inc (NASDAQ:BIIB) news were published by: Profitconfidential.com which released: “Biogen Inc: What This Selloff Means for BIIB Stock” on November 23, 2016, also Fool.com with their article: “Better Buy: Biogen Inc. vs. Celgene Corporation” published on November 15, 2016, Etfdailynews.com published: “Biogen Shares Hammered On Ely Lilly’s Drug Failure” on November 23, 2016. More interesting news about Biogen Inc (NASDAQ:BIIB) were released by: Fool.com and their article: “Why Biogen Inc. Stock Lost 10.5% of Its Value In October” published on November 09, 2016 as well as Fool.com‘s news article titled: “Biogen Inc. Working With What It’s Got as It Looks to Diversify” with publication date: October 27, 2016.

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