Biogen Target of Unusually Large Options Trading (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) was the target of unusually large options trading on Wednesday. Stock investors bought 6,024 call options on the stock. This is an increase of approximately 58% compared to the typical daily volume of 3,807 call options.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BIIB. Robert W. Baird boosted their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Mizuho decreased their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a report on Monday, December 16th. Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research note on Monday, November 18th. Finally, HC Wainwright reissued a “buy” rating and set a $300.00 price objective on shares of Biogen in a research report on Thursday, October 31st. Seventeen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $221.65.

Hedge Funds Weigh In On Biogen

Several institutional investors and hedge funds have recently made changes to their positions in BIIB. Grandfield & Dodd LLC boosted its stake in Biogen by 5.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares during the period. Quintet Private Bank Europe S.A. grew its stake in shares of Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after acquiring an additional 63 shares in the last quarter. Signaturefd LLC increased its position in Biogen by 3.5% during the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after acquiring an additional 71 shares during the period. Quent Capital LLC raised its stake in Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Down 4.3 %

BIIB stock opened at $133.43 on Thursday. The stock has a market cap of $19.44 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The company has a fifty day moving average price of $148.28 and a two-hundred day moving average price of $174.33. Biogen has a one year low of $128.51 and a one year high of $238.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Equities analysts anticipate that Biogen will post 16.42 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.