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Tuesday, June 6, 2023

Momentum Is Strong For Biogen Inc. (NASDAQ: BIIB)

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Biogen Inc. (BIIB) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$3.91, or -1.26%, to $307.20. The Biogen Inc. has recorded 65,315 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed FDA Grants Accelerated Approval for QALSODY™ (tofersen) for SOD1-ALS, a Major Scientific Advancement as the First Treatment to Target a Genetic Cause of ALS.

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Stocks Info

This NASDAQ-listed company operates within the Drug Manufacturers – General industry segment, falling under the Healthcare sector. At the end of the last regular session, the stock closed at $311.11 and fluctuated between $312.20 as its day high and $304.26 as its day low. The current market capitalization of Biogen Inc. is $43.40B. A total of 1.24 million shares were traded on the day, compared to an average of 893.87K shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, BIIB has seen 20 BUY and 28 SELL insider trades, representing the acquisition of 26,209 and the disposition of 17,731 shares. Over the last 12 months, there were 46 BUYs and 42 SELLs from insiders. Insiders purchased 64,855 shares during that period but sold 33,641.

In the most recent transaction, Singhal Priya sold 91 shares of BIIB for 277.11 per share on Apr 04. After the transaction, the Head of Development now owns 2,843 company shares. In a previous transaction on Mar 28, Singhal Priya sold 568 shares at 270.06 per share. BIIB shares that Head of Development owns now total 2,842.

Among the insiders who sold shares, Gregory Ginger disposed of 5,610 shares on Nov 14 at a per-share price of $300.11. This resulted in the EVP, Human Resources holding 5,711 shares of BIIB after the transaction. In another insider transaction, ALEXANDER SUSAN H sold 5,532 shares at $280.70 per share on Oct 27. Company shares held by the EVP Chief Legal Off & Corp Sec now total 39,396.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for BIIB in the last 3 months, the mean price target is $326.04 with high estimates of $398.00 and low estimates of $263.00. In terms of 52-week highs and lows, BIIB has a high of $311.88 and a low of $187.16.

As of this writing, BIIB has an earnings estimate of $3.78 per share for the current quarter. EPS was calculated based on a consensus of 25 estimates, with a high estimate of $4.49 per share and a lower estimate of $3.07. The company reported an EPS of $4.05 in the last quarter, which was 16.40% higher than expectations of $3.48.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. BIIB’s latest balance sheet shows that the firm has $3.80B in Cash & Short Term Investments as of fiscal 2021. There were $7.60B in debt and $4.30B in liabilities at the time. Its Book Value Per Share was $95.54, while its Total Shareholder’s Equity was $10.96B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 34 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for BIIB is Sell with a score of 4.33. A total of 21 analysts rated the stock as Buy while 2 rated it as Overweight while 11 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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