Biogen Inc. (NASDAQ:BIIB) surprises bears, looks strong going forward – Marketing Sentinel
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Biogen Inc. (NASDAQ:BIIB) surprises bears, looks strong going forward

In the last trading session, 2,873,627 Biogen Inc. (NASDAQ:BIIB) shares changed hands as the company’s beta touched 0.39. With the company’s per share price at $388.44 changed hands at $4.92 or 0.01% during last session, the market valuation stood at $58.48 Billion. BIIB’s last price was a discount, traded about -20.62% off its 52-week high of $468.55. The share price had its 52-week low at $223.25, which suggests the last value was 42.53% up since then. When we look at Biogen Inc.’s average trading volume, we note the 10-day average is 2.42 Million shares, with the 3-month average coming to 1.75 Million.

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Analysts gave the Biogen Inc. (BIIB) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2.4. If we narrow down to specifics, the data shows that none out of 33 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 17 recommended BIIB as a Hold, 14 felt it is a Buy and 1 rated the stock as Underweight. Biogen Inc.’s EPS for the current quarter is expected to be $4.58.


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Biogen Inc. (NASDAQ:BIIB) trade information

Instantly BIIB was in green as seen at the end of in last trading. With action 1.28%, the performance over the past five days has been red. The jump to weekly highs of $410.4 on Tuesday, Jun 15 added 5.35% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.59%, with the 5-day performance at -0.02% in the red. However, in the 30-day time frame, Biogen Inc. (NASDAQ:BIIB) is 0.38% up. Looking at the short shares, we see there were 3.13 Million shares sold at short interest cover period of 1.79 days.

The consensus price target for the stock as assigned by Wall Street analysts is $420.93, meaning bulls need an upside of 8.36% from its current market value. According to analyst projections, BIIB’s forecast low is $244 with $647 as the target high. To hit the forecast high, the stock’s price needs a +66.56% upsurge from its current level, while the stock would need to tank -37.18% for it to hit the projected low.

Biogen Inc. (BIIB) estimates and forecasts

Data shows that the Biogen Inc. share is not performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +56.51% over the past 6 months, a -45.19% in annual growth rate that is considerably lower than the industry average of 9.1%. But despite this, analysts have looked to lower expectations by downgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Biogen Inc. will drop -55.4%, while the growth in revenue is estimated to hit -47.7% for the next quarter. Year-over-year growth is forecast to reach -20.9% down from the last financial year.

Consensus estimates given by 23 financial analysts project the company’s revenue in the current quarter to hit an average of $2.61 Billion. 23 analysts are of the opinion that Biogen Inc.’s revenue for the quarter ending September 01, 2021 will be $2.66 Billion. The company’s revenue for the corresponding quarter a year ago was $3.43 Billion. According to analysts, the company will likely register a drop in its current quarter sales, forecast at -23.8%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 10.1%. The 2021 estimates are for Biogen Inc. earnings to decrease by -21.1%, but the outlook for the next 5-year period is at -7.65% per year.

Biogen Inc. (NASDAQ:BIIB)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.65% of Biogen Inc. shares while 87.08% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 87.65%. There are 1569 institutions holding the Biogen Inc. stock share, with Primecap Management Company the top institutional holder. As of Mar 30, 2021, the company held 11.13% of the shares, roughly 16.76 Million BIIB shares worth $4.69 Billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 8.97% or 13.5 Million shares worth $3.78 Billion as of Mar 30, 2021.

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Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard/Primecap Fund and Vanguard Total Stock Market Index Fund. With 9337199 shares estimated at $2.61 Billion under it, the former controlled 6.2% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.85% of the shares, roughly 4.29 Million shares worth around $1.2 Billion.

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