Is Biogen Idec Inc (NASDAQ:BIIB) a Sell? What does Atlantic Equities Think?


Why Has Atlantic Equities Given Biogen Idec Inc (NASDAQ:BIIB) a $344.00 Price Target

In analysts report finalized on Friday, 18 December, stock analysts at Atlantic Equities launched coverage for Biogen Idec Inc (NASDAQ:BIIB) shares. The firm has decided to set a Overweight rating along with a $344.00, adding 16.42% to the target.

From a total of 14 analysts covering Biogen Idec Inc. (NASDAQ:BIIB) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $450 while the lowest target price is $266. The mean of all analyst targets is $364.36 with a 30.01% above today’s ($293.37) stock price. Biogen Idec Inc. was the topic of 17 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Wells Fargo maintained shares on December 4 with “Outperform” rating. Robert W. Baird downgraded shares to “Neutral” rating and $316 target share price in a report from a July 27. H.C. Wainwright maintained BIIB stock in a recent report from October 22 with “Buy” rating. Argus Research maintained the rating on July 27. Argus Research has a “Buy” rating and a $360 price target on shares. Finally, Raymond James initiated the stock with “Strong-Buy” rating in a report issued on a September 1.

The stock decreased 1.28% or $3.8 during the last trading session, striking $293.37. Approximately 2.78 million shares of stock traded hands or 59.77% up from the average. Biogen Inc (NASDAQ:BIIB) has declined 24.04% since May 15, 2015 and is downtrending. It has underperformed by 20.24% the S&P500.

The overall sentiment of institutions has increased to 1.2 in Q2 2015. Its up 0.14, from 1.06 in 2015Q2. The ratio is positive, as 145 institutions have sold all the shares of Biogen Inc that they owned while 259 funds have taken shares off the table. 101 funds have purchased shares for the first time while 382 added to their positions. These institutions now hold 208.31 million shares or 0.24% less than the 208.81 million shares they owned in 2015Q2.

The Fund Jgp Global Gestao De Recursos Ltda. currently is holding shares equating to 9.27% of its total portfolio in Biogen Inc representing a total of 57,898 shares. Another fund,Sectoral Asset Management Inc, is holding a total of 625,096 shares equating to 8.36% of their holdings. Additionally, Steadfast Capital Management Lp has a 952,862 share stake in Biogen Inc which represents 5.57% of their total portfolio. The Fund, Steadfast Advisors Lp, based out of New York, has also built up a stake in the stock, which represents a total of 5.56% of their total portfolio. Finally Tirschwell & Loewy Inc, a fund which is based in the state of New York reported a total holdings of 100,286 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 11, 2015, shareholders of Biogen Inc have witnessed 1 insider purchase, and a total of 2 sales equating to a net activity of approximately $85.74 million . Denner Alexander J bought 310,000 shares worth approximately $86.02M. Karaboutis Adriana sold 269 shares worth approximately $78,395. Posner Brian S sold 470 shares worth approximately $195,050. Williams Douglas E sold 3,841 shares worth approximately $1.57 million. The company insider Scangos George A sold 1,362 shares worth $514,182.

Biogen Inc., formerly Biogen Idec Inc., is a global biopharmaceutical company. The company has a market cap of $65.78 billion. The Firm is focused on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders. It has 19.16 P/E ratio. The Firm develops, makes and markets products designed for the treatment of multiple sclerosis and hemophilia A and B.

According to Zacks Investment Research, “Biogen is a leading biopharmaceutical company engaged in the research, development and marketing of targeted therapies for the treatment of cancer, autoimmune and inflammatory diseases. The company owns industry leading brands for the treatment of multiple sclerosis, next-generation treatments for hemophilia, and a deep clinical pipeline ranging from Alzheimer’s disease, lupus nephritis to neuropathic pain.”