In October, there was a sizeable reduction in the number of short positions held in Biogen Inc. (NASDAQ: BIIB). There was a decrease of 7.7% from 2,710,000 shares subject to short interest as of September 30 to the total number of 2,500,000 shares subject to short interest as of October 15. This indicates that the total number of shares subject to short interest has decreased. It is possible to derive the current short-interest ratio of 1.7 days based on an average trading volume of 1,450,000 shares. This ratio can be found in the table below. Short sales currently account for 1.7% of the company’s total share capital.

On Thursday, October 27, Executive Vice President Susan H. Alexander sold 5,532 shares of the company’s stock. Relatedly, this announcement was made. The transaction was completed. The shares were acquired for a total cost of $1,552,832.40, which works out to a price of $280.70 per share on an average basis. After the deal’s completion, the executive vice president gained direct ownership of 39,396 shares of company stock, which have a combined value of $11,058,457.20. You will be taken to a legal file submitted to the SEC if you click on the link we have provided, where you will find additional information regarding the sale. Insiders of the company hold ownership of 0.65% of the total shares of stock in the company.
Only recently have brokerage companies started to concentrate their efforts on BIIB. Jefferies Financial Group upgraded their “buy” rating and price target on Biogen stock from $300 to $325 in a research note published on Monday, October 24. In addition, the price target was raised to reflect the upgrade. It was about Biogen that the research note was written. BMO Capital Markets raised their price objective for shares of Biogen from $217.00 to $360.00 and upgraded the stock from a “market perform” rating to a “outperform” rating in a research report published in September 28. In a research report that was made public on September 28, Mizuho Investment Research raised their price objective on Biogen from $207.00 to $270.00 and upgraded the stock from a “neutral” rating to a “buy” rating. Both of these moves were made about the company’s stock. Piper Sandler raised their price objective on Biogen stock from $200 to $280 and upgraded the company’s stock from a “neutral” rating to a “outperform” rating in a research note published on September 28. Piper Sandler also upgraded the stock from a “sell” rating to a “outperform” rating.
Last but not least, in a research report made public on Thursday, September 22, Truist Financial stated that they had decreased their price target on Biogen shares from $270.00 to $265.00 while keeping their “buy” rating on the stock. Additionally, eight investment analysts have issued a “hold” recommendation for the stock. In comparison, twenty analysts have issued a “buy” recommendation, and one has issued a “strong-buy” recommendation for the stock. Although, according to data provided by Bloomberg, the company is currently rated as a “Moderate Buy,” Analysts anticipate that the stock will reach an average price of $291.36 before it is sold.

The NASDAQ BIIB market was opened for trading with a starting price of $284.29 on Monday. There is a current ratio equal to 2, a quick ratio equal to 1, and a current ratio equal to 1.68. As a result, there is no debt-to-equity ratio. The moving average of the company’s stock price over the past fifty days is $231.92, and the moving average over the past two hundred days is $216.42. During the previous year, the cost of one share of Biogen fluctuated between $187.16 and $285.35, with the average price being $285.35. The business currently has a price-to-earnings ratio of 14.48, a price-to-growth ratio of 2.10, and a beta value of 0.17. Its current market value is $40.94 billion, giving it a market capitalization.
On Tuesday, October 25, Biogen (NASDAQ: BIIB) issued the most recent quarterly results report that it had been working on. The biopharmaceutical company’s quarterly earnings per share (EPS) came in at $4.77, which was $0.61 higher than the consensus projection of $4.16. The earnings were reported over three months. Biogen’s net margin and return on equity were both relatively high, coming in at 26.64% and 21.31%, respectively. The company reported quarterly sales totaling $2.51 billion, considerably higher than the $2.47 billion analysts anticipated it would bring in. The company generated earnings of $4.77 per share during the same period in the prior year’s operations. Compared to the revenue the company brought in during the preceding quarter’s equivalent period, this most recent quarter’s revenue was 9.7% lower. Research analysts have estimated that Biogen’s earnings will come in at 16.93 per share for the current fiscal year.

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