Biogen Inc. (NASDAQ:BIIB) Short Interest Update

Biogen Inc. (NASDAQ:BIIB) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 2,580,000 shares, a decline of 5.1% from the November 30th total of 2,720,000 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Trading of Biogen

Institutional investors and hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new stake in Biogen during the 2nd quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new position in Biogen in the 3rd quarter worth $33,000. Venturi Wealth Management LLC raised its stake in Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Biogen during the 2nd quarter valued at about $60,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Biogen during the 3rd quarter valued at about $74,000. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the topic of several research analyst reports. Raymond James reiterated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Royal Bank of Canada reduced their target price on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. UBS Group lowered their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Stifel Nicolaus cut shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a research report on Monday, December 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $300.00 target price on shares of Biogen in a research report on Thursday, October 31st. Sixteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $242.68.

Biogen Stock Performance

Shares of BIIB stock opened at $150.19 on Tuesday. The business’s 50-day moving average price is $162.73 and its 200-day moving average price is $191.97. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $21.89 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.74 and a beta of -0.08. Biogen has a 12 month low of $145.07 and a 12 month high of $268.30.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.36 EPS. Equities research analysts forecast that Biogen will post 16.43 EPS for the current year.

About Biogen

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.