Biogen (NASDAQ:BIIB) has tumbled 3.22% during the past week and has dropped 9.65% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.06%. Biogen (NASDAQ:BIIB) has underperformed the index by 10.48% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Biogen (NASDAQ:BIIB): The stock opened at $242.27 on Friday but the bulls could not build on the opening and the stock topped out at $242.27 for the day. The stock traded down to $238.20 during the day, due to lack of any buying support eventually closed down at $238.21 with a loss of -1.64% for the day. The stock had closed at $242.19 on the previous day. The total traded volume was 2,219,712 shares.
The company shares have dropped -42.05% from its 1 Year high price. On Jun 23, 2015, the shares registered one year high at $420.99 and the one year low was seen on Jun 16, 2016. The 50-Day Moving Average price is $266.23 and the 200 Day Moving Average price is recorded at $270.60.
On the companys insider trading activities, Koppel Adam, officer (EVP, Strategy and Bus. Dev.) of Biogen Inc., unloaded 555 shares at an average price of $290 on June 6, 2016. The total amount of the transaction was worth $160,950, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Citigroup maintains its rating on Biogen (NASDAQ:BIIB). The global brokerage major lowers the current price target from $345 per share to $295 per share. Analysts at the Citigroup have a current rating of Buy on the shares. The rating by the firm was issued on June 8, 2016. Currently the company Insiders own 0.32% of Biogen shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -8.8% . Institutional Investors own 92.85% of Biogen shares. During last six month period, the net percent change held by insiders has seen a change of -7.26%.
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 Companys 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-Hodgkins lymphoma, chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA, which is for the treatment of chronic lymphocytic leukemia.