Biogen Inc (BIIB) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Jun 7, 2016.
On the company’s financial health, Biogen Inc reported $4.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $4.47. The company had revenue of $2727.00 million for the quarter, compared to analysts expectations of $2745.21 million. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.82 EPS.
Biogen Inc opened for trading at $289.51 and hit $292.69 on the upside on Friday, eventually ending the session at $290.23, with a gain of 0.17% or 0.5 points. The heightened volatility saw the trading volume jump to 14,72,999 shares. Company has a market cap of $63,575 M.
In a different news, on Jun 6, 2016, George A Scangos (Chief Executive Officer) sold 842 shares at $290.00 per share price. According to the SEC, on Apr 7, 2016, Adam Koppel (EVP, Strategy and Bus. Dev.) sold 102 shares at $275.00 per share price. On Feb 26, 2016, Alfred Sandrock (EVP CMO Neuro & Neurodegenerat) sold 183 shares at $261.90 per share price, according to the Form-4 filing with the securities and exchange commission.
Biogen Inc. formerly Biogen Idec Inc. is a global biopharmaceutical company. The Company is focused on discovering developing manufacturing and delivering therapies for neurological autoimmune and hematologic disorders. The Company develops manufactures and markets products designed for the treatment of multiple sclerosis (MS) and hemophilia A and B. The Company’s marketed products include AVONEX PLEGRIDY TECFIDERA TYSABRI FAMPYRA for multiple sclerosis (MS) ALPROLIX for hemophilia B and ELOCTATE for hemophilia A among others. It also collaborates on the development and commercialization of RITUXAN (rituximab) which is a monoclonal antibody for the treatment of non-Hodgkin’s lymphoma chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA which is for the treatment of chronic lymphocytic leukemia.