Biogen's stock gets a boost from new $3.5 billion stock repurchase program [MarketWatch]
Biogen Inc. (BIIB)
Last biogen inc. earnings: 4/22 07:12 am
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Source: MarketWatch
Biogen's stock gets a boost from new $3.5 billion stock repurchase program Shares of Biogen Inc. BIIB, +1.12% rose 0.6% in premarket trade Friday, after the biotechnology company disclosed the authorization of a $3.5 billion share repurchase program. In a filing with the Securities and Exchange Commission, the company said the repurchase program does not have an expiration date. The company said all shares repurchased under the program will be retired. The previous $5 billion share buyback program authorized in July 2016 was completed as of June 30, 2018. Based on Thursday's stock closing price of $347.93, the new program could buy back up to 10.06 million shares, or about 5% of the shares outstanding. The stock has run up 30.6% over the past three months, while the iShares Nasdaq Biotechnology ETF BIIB, +1.12% has climbed 16.6% and the S&P 500 SPX, +0.49% has gained 7.5%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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News
- Shareholders 30% loss in Biogen (NASDAQ:BIIB) partly attributable to the company's decline in earnings over past year [Yahoo! Finance]Yahoo! Finance
- Biogen Inc. (NASDAQ: BIIB) had its price target raised by analysts at Wedbush from $213.00 to $215.00. They now have a "neutral" rating on the stock.MarketBeat
- Biogen Inc. (NASDAQ: BIIB) had its price target lowered by analysts at HC Wainwright from $325.00 to $300.00. They now have a "buy" rating on the stock.MarketBeat
- Biogen (BIIB) Q1 Earnings Beat, Stock Up on Alzheimer Drug Uptake [Yahoo! Finance]Yahoo! Finance
- Biogen (BIIB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates [Yahoo! Finance]Yahoo! Finance
BIIB
Earnings
- 4/24/24 - Beat
BIIB
Sec Filings
- 4/24/24 - Form 10-Q
- 4/24/24 - Form 8-K
- 4/12/24 - Form PRE
- BIIB's page on the SEC website