Do Institutional Investors Hate Biogen Idec Inc (NASDAQ:BIIB)?

September 30, 2018 - By Jason Dias

Biogen Inc. (NASDAQ:BIIB) Logo

Sentiment for Biogen Idec Inc (NASDAQ:BIIB)

Biogen Idec Inc (NASDAQ:BIIB) institutional sentiment decreased to 1.02 in 2018 Q2. Its down -0.05, from 1.07 in 2018Q1. The ratio turned negative, as 371 hedge funds started new and increased positions, while 363 cut down and sold their holdings in Biogen Idec Inc. The hedge funds in our partner’s database now have: 170.10 million shares, down from 178.22 million shares in 2018Q1. Also, the number of hedge funds holding Biogen Idec Inc in their top 10 positions decreased from 20 to 18 for a decrease of 2. Sold All: 47 Reduced: 316 Increased: 286 New Position: 85.

Biogen Inc., a biopharmaceutical company, discovers, develops, makes, and delivers therapies for the treatment of neurological and autoimmune diseases worldwide. The company has market cap of $71.17 billion. The firm offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA to treat multiple sclerosis ; FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy. It has a 25.09 P/E ratio. It also provides BENEPALI, an etanercept biosimilar referencing ENBREL; FLIXABI, an infliximab biosimilar referencing REMICADE; RITUXAN for the treatment of non-Hodgkin's lymphoma, chronic lymphocytic leukemia (CLL), and other conditions; GAZYVA to treat CLL and follicular lymphoma; and other potential anti-CD20 therapies.

The stock decreased 0.64% or $2.29 during the last trading session, reaching $353.31. About 1.06 million shares traded. Biogen Inc. (NASDAQ:BIIB) has risen 3.14% since September 30, 2017 and is uptrending. It has underperformed by 12.48% the S&P500.

Analysts await Biogen Inc. (NASDAQ:BIIB) to report earnings on October, 23. They expect $6.80 earnings per share, up 7.77 % or $0.49 from last year’s $6.31 per share. BIIB’s profit will be $1.37 billion for 12.99 P/E if the $6.80 EPS becomes a reality. After $5.80 actual earnings per share reported by Biogen Inc. for the previous quarter, Wall Street now forecasts 17.24 % EPS growth.

Sarissa Capital Management Lp holds 26.87% of its portfolio in Biogen Inc. for 461,858 shares. Sabby Management Llc owns 152,102 shares or 6.82% of their US portfolio. Moreover, Kazazian Asset Management Llc has 5.86% invested in the company for 22,032 shares. The Missouri-based Terril Brothers Inc. has invested 4.99% in the stock. Tekla Capital Management Llc, a Massachusetts-based fund reported 403,955 shares.

Since January 1, 0001, it had 1 insider purchase, and 0 sales for $12.96 million activity.

Biogen Inc. (NASDAQ:BIIB) Ratings Coverage

Ratings analysis reveals 63% of Biogen’s analysts are positive. Out of 16 Wall Street analysts rating Biogen, 10 give it “Buy”, 0 “Sell” rating, while 6 recommend “Hold”. The lowest target is $27200 while the high is $42500. The stock’s average target of $349.13 is -1.18% below today’s ($353.31) share price. BIIB was included in 25 notes of analysts from April 5, 2018. On Wednesday, July 25 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The stock has “Buy” rating by Guggenheim on Tuesday, April 24. The company was downgraded on Tuesday, July 10 by Robert W. Baird. Leerink Swann maintained it with “Hold” rating and $32500 target in Wednesday, April 25 report. The rating was maintained by Morgan Stanley on Wednesday, April 25 with “Overweight”. The rating was maintained by Cantor Fitzgerald on Wednesday, April 25 with “Hold”. As per Wednesday, July 25, the company rating was maintained by Robert W. Baird. Bernstein maintained Biogen Inc. (NASDAQ:BIIB) on Tuesday, April 10 with “Buy” rating. On Wednesday, April 25 the stock rating was maintained by H.C. Wainwright with “Buy”. The rating was maintained by Morgan Stanley on Friday, July 13 with “Overweight”.

More notable recent Biogen Inc. (NASDAQ:BIIB) news were published by: Fool.com which released: “Better Buy: Gilead Sciences, Inc. vs. Biogen” on September 13, 2018, also Streetinsider.com with their article: “Cantor Fitzgerald Transfers Coverage on Biogen (BIIB), Upgrades to Overweight” published on September 30, 2018, Fool.com published: “Better Buy: Celgene Corp. vs. Biogen” on September 17, 2018. More interesting news about Biogen Inc. (NASDAQ:BIIB) were released by: 247Wallst.com and their article: “Merrill Lynch Loves Large Cap Biotech: 4 Top Stocks to Buy Now” published on September 27, 2018 as well as Seekingalpha.com‘s news article titled: “Biogen, Inc. (BIIB) Management Presents at Morgan Stanley 16th Annual Global Healthcare Conference (Transcript)” with publication date: September 12, 2018.

Biogen Inc. (NASDAQ:BIIB) Ratings Chart

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