What Next for Biogen Inc (NASDAQ:BIIB) Stock After Increase in Shorted Shares?

Biogen Inc. (NASDAQ:BIIB) Logo

Investors sentiment decreased to 1.01 in Q3 2018. Its down 0.01, from 1.02 in 2018Q2. It turned negative, as 45 investors sold Biogen Inc. shares while 334 reduced holdings. 138 funds opened positions while 243 raised stakes. 167.21 million shares or 1.69% less from 170.10 million shares in 2018Q2 were reported.
Robeco Institutional Asset Bv holds 0.54% or 364,769 shares in its portfolio. Fred Alger owns 297,536 shares or 0.39% of their US portfolio. National Pension Service stated it has 193,693 shares or 0.28% of all its holdings. Principal Gru Incorporated invested in 443,917 shares or 0.14% of the stock. British Columbia Investment Mngmt has invested 0.34% in Biogen Inc. (NASDAQ:BIIB). Putnam Invests Ltd Liability reported 496,498 shares. Camelot Portfolios Lc has invested 0.19% in Biogen Inc. (NASDAQ:BIIB). First Savings Bank Of Hutchinson has invested 0.41% in Biogen Inc. (NASDAQ:BIIB). Deutsche Bancshares Ag holds 0.29% or 1.18M shares. Korea Investment invested 0.31% of its portfolio in Biogen Inc. (NASDAQ:BIIB). Convergence Invest Ltd Co reported 6,759 shares stake. Assets Investment Mngmt Ltd Liability Company accumulated 0.47% or 8,000 shares. Nelson Roberts Invest Advsrs Ltd Liability Corporation holds 0% or 3 shares in its portfolio. Moreover, Ghp has 0.06% invested in Biogen Inc. (NASDAQ:BIIB). Barrett Asset Limited Liability has invested 0% in Biogen Inc. (NASDAQ:BIIB).

Since September 26, 2018, it had 0 insider purchases, and 1 insider sale for $350,000 activity.

The stock of Biogen Inc (NASDAQ:BIIB) registered an increase of 8.9% in short interest. BIIB’s total short interest was 3.69 million shares in January as published by FINRA. Its up 8.9% from 3.39 million shares, reported previously. With 1.11 million shares average volume, it will take short sellers 3 days to cover their BIIB’s short positions. The short interest to Biogen Inc’s float is 1.83%.

The stock increased 3.69% or $11.33 during the last trading session, reaching $318.33. About 1.53 million shares traded or 12.55% up from the average. Biogen Inc. (NASDAQ:BIIB) has declined 0.04% since January 5, 2018 and is downtrending. It has underperformed by 0.04% the S&P500.

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 $64.14 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 20.81 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.

Biogen Inc. (NASDAQ:BIIB) Ratings Coverage

Among 11 analysts covering Biogen (NASDAQ:BIIB), 8 have Buy rating, 0 Sell and 3 Hold. Therefore 73% are positive. Biogen had 14 analyst reports since July 6, 2018 according to SRatingsIntel. Canaccord Genuity maintained it with “Buy” rating and $396 target in Monday, July 23 report. The stock has “Overweight” rating by Cantor Fitzgerald on Monday, October 1. The stock of Biogen Inc. (NASDAQ:BIIB) has “Market Perform” rating given on Friday, October 19 by Bernstein. The stock of Biogen Inc. (NASDAQ:BIIB) has “Overweight” rating given on Wednesday, October 24 by JP Morgan. The stock of Biogen Inc. (NASDAQ:BIIB) earned “Overweight” rating by Morgan Stanley on Wednesday, December 19. The rating was upgraded by Citigroup on Friday, July 6 to “Buy”. The company was maintained on Wednesday, July 25 by Robert W. Baird. On Tuesday, July 10 the stock rating was downgraded by Robert W. Baird to “Neutral”. Stifel Nicolaus maintained it with “Buy” rating and $394 target in Tuesday, August 7 report. Barclays Capital maintained it with “Equal-Weight” rating and $320 target in Wednesday, July 25 report.

More notable recent Biogen Inc. (NASDAQ:BIIB) news were published by: Schaeffersresearch.com which released: “2 Healthcare Stocks Soaring On Fresh “Buy” Ratings – Schaeffers Research” on January 04, 2019, also Streetinsider.com with their article: “Biogen (BIIB) Applauds Quebec Decision to Cover SPINRAZA for broad population of SMA Patients – StreetInsider.com” published on December 20, 2018, Nasdaq.com published: “Biogen and C4 Therapeutics Enter into Strategic Collaboration to Discover and Develop Potential New Treatments for Neurological Conditions – Nasdaq” on January 04, 2019. More interesting news about Biogen Inc. (NASDAQ:BIIB) were released by: Globenewswire.com and their article: “Biogen and Skyhawk Therapeutics Announce Agreement to Develop Novel Small Molecule RNA Splicing Modifiers for Neurological Disease Targets – GlobeNewswire” published on January 04, 2019 as well as Seekingalpha.com‘s news article titled: “Biogen commences late-stage study of extended interval dosing for MS med Tysabri – Seeking Alpha” with publication date: January 03, 2019.

Biogen Inc. (NASDAQ:BIIB) Ratings Chart

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