Investors buy high volume of Biogen call options (NASDAQ:BIIB)

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Biogen Inc. (NASDAQ: BIIB – Get a rating) saw unusual options trading activity on Monday. Traders bought 5,835 call options on the company. This is a 32% increase from the typical daily volume of 4,416 call options.

Institutional investors weigh in on Biogen

Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of Biogen during the first quarter at a value of $823,000. TownSquare Capital LLC increased its stake in Biogen by 31.9% during the first quarter. TownSquare Capital LLC now owns 11,978 shares of the biotech company worth $2,522,000 after buying 2,894 additional shares in the last quarter. AIA Group Ltd increased its stake in Biogen shares by 42.2% in Q1. AIA Group Ltd now owns 2,197 shares of the biotech company valued at $463,000 after buying an additional 652 shares in the last quarter. IndexIQ Advisors LLC increased its stake in Biogen shares by 6.5% in Q1. IndexIQ Advisors LLC now owns 3,014 shares of the biotech company valued at $636,000 after buying an additional 185 shares during the period. Finally, Stephens Inc. AR increased its stake in Biogen by 18.5% during the 4th quarter. Stephens Inc. AR now owns 18,947 shares of the biotech company worth $4,546,000 after purchasing an additional 2,952 shares during the period. 83.45% of the shares are held by hedge funds and other institutional investors.

Performance of Biogen shares

The NASDAQ BIIB was down $2.57 during Monday trading hours, hitting $195.21. 18,533 shares of the company were traded, against an average volume of 1,136,458. The company has a quick ratio of 1.68, a current ratio of 1.94 and a leverage ratio of 0.53. The stock has a market capitalization of $28.33 billion, a P/E ratio of 14.17, a P/E/G ratio of 1.20 and a beta of 0.43. Biogen has a 1-year low of $187.16 and a 1-year high of $293.47. The company’s 50-day simple moving average is $208.69 and its 200-day simple moving average is $207.09.

Biogen (NASDAQ: BIIB- Get a rating) last reported results on Wednesday, July 20. The biotech company reported EPS of $5.25 for the quarter, beating the consensus estimate of $4.09 by $1.16. Biogen had a net margin of 19.36% and a return on equity of 22.36%. The company posted revenue of $2.59 billion for the quarter, versus a consensus estimate of $2.48 billion. In the same period a year earlier, the company earned earnings per share of $5.68. The company’s revenue for the quarter was down 6.7% year over year. On average, stock research analysts expect Biogen to post earnings per share of 16.45 for the current year.

Analysts set new price targets

Several analysts have recently commented on BIIB shares. Cowen lowered his price target on Biogen shares from $285.00 to $270.00 and set an “outperform” rating for the company in a Thursday, July 21 report. Needham & Company LLC lowered its price target on Biogen stock from $262.00 to $250.00 and set a “buy” rating on the stock in a Thursday, July 21 research note. Stifel Nicolaus cut his price target on Biogen shares from $230.00 to $223.00 and set a “hold” rating on the stock in a Monday, September 12 report. StockNews.com upgraded Biogen shares from a “buy” rating to a “strong buy” rating in a Wednesday, July 27 research note. Finally, Oppenheimer raised its price target on Biogen from $225.00 to $230.00 and gave the stock an “outperform” rating in a Monday, July 18 research report. Thirteen analysts gave the stock a hold rating, fourteen gave the company a buy rating and one issued a strong buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $253.61.

About Biogene

(Get a rating)

Biogen Inc discovers, develops, manufactures and delivers therapies for the treatment of neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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