Biogen (NASDAQ:BIIB) Sets New 12-Month Low – Should You Sell?

Biogen Inc. (NASDAQ:BIIB)’s stock price reached a new 52-week low on Monday . The stock traded as low as $158.12 and last traded at $158.12, with a volume of 16257 shares changing hands. The stock had previously closed at $159.99.

Analysts Set New Price Targets

Several research firms have recently weighed in on BIIB. Cantor Fitzgerald restated an “overweight” rating and set a $292.00 price objective on shares of Biogen in a research report on Monday, September 9th. StockNews.com upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. UBS Group reduced their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Scotiabank reduced their price objective on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. Finally, Oppenheimer reduced their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Biogen currently has a consensus rating of “Moderate Buy” and an average target price of $258.96.

Biogen Stock Performance

The stock has a market cap of $23.17 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 1.51 and a beta of -0.06. The firm’s 50-day moving average is $185.99 and its two-hundred day moving average is $207.27. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.36 earnings per share. As a group, research analysts expect that Biogen Inc. will post 16.42 EPS for the current year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Biogen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Biogen by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after purchasing an additional 47,055 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Biogen by 144.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 7,178 shares of the biotechnology company’s stock valued at $1,391,000 after purchasing an additional 4,238 shares during the last quarter. MML Investors Services LLC grew its holdings in Biogen by 3.8% during the third quarter. MML Investors Services LLC now owns 10,280 shares of the biotechnology company’s stock valued at $1,993,000 after purchasing an additional 380 shares during the last quarter. XTX Topco Ltd acquired a new position in Biogen during the third quarter valued at approximately $1,348,000. Finally, iSAM Funds UK Ltd acquired a new position in Biogen during the third quarter valued at approximately $1,116,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.