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

Shares of Biogen Inc. (NASDAQ:BIIB) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $153.37 and last traded at $153.48, with a volume of 38747 shares traded. The stock had previously closed at $155.33.

Analyst Ratings Changes

BIIB has been the subject of several recent research reports. Morgan Stanley lowered Biogen from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $285.00 to $204.00 in a report on Thursday, October 31st. Royal Bank of Canada decreased their price target on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. BMO Capital Markets reduced their price target on Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Oppenheimer dropped their target price on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Robert W. Baird increased their target price on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Biogen Stock Down 2.2 %

The business has a 50 day moving average of $171.92 and a 200 day moving average of $198.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.36 earnings per share. On average, equities analysts anticipate that Biogen Inc. will post 16.43 EPS for the current year.

Institutional Investors Weigh In On Biogen

A number of hedge funds have recently modified their holdings of BIIB. Oddo BHF Asset Management Sas bought a new position in shares of Biogen during the 3rd quarter worth approximately $1,383,000. Inspire Trust Co. N.A. raised its holdings in Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares in the last quarter. Synovus Financial Corp raised its holdings in Biogen by 6.0% in the 3rd quarter. Synovus Financial Corp now owns 14,462 shares of the biotechnology company’s stock valued at $2,803,000 after acquiring an additional 821 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Biogen by 13.6% during the 3rd quarter. Tidal Investments LLC now owns 9,012 shares of the biotechnology company’s stock worth $1,747,000 after buying an additional 1,082 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Biogen during the 3rd quarter worth $150,000. 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.