Biogen (NASDAQ:BIIB) Sets New 12-Month Low at $201.82

Biogen Inc. (NASDAQ:BIIB)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $201.82 and last traded at $203.34, with a volume of 78399 shares changing hands. The stock had previously closed at $206.52.

Analyst Ratings Changes

BIIB has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Bank Of America (Bofa) dropped their price objective on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. Stifel Nicolaus dropped their price objective on shares of Biogen from $315.00 to $287.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. JPMorgan Chase & Co. dropped their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Oppenheimer dropped their target price on shares of Biogen from $295.00 to $290.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $300.12.

Biogen Price Performance

The company has a market cap of $29.61 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.71 and a beta of -0.02. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average price is $220.95 and its 200 day moving average price is $238.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the business earned $4.05 EPS. Equities research analysts forecast that Biogen Inc. will post 15.47 earnings per share for the current year.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold 882 shares of company stock worth $202,030 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Biogen

Several hedge funds have recently added to or reduced their stakes in BIIB. Vanguard Group Inc. increased its holdings in Biogen by 18.2% during the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after acquiring an additional 2,218,744 shares in the last quarter. Norges Bank purchased a new stake in shares of Biogen during the fourth quarter worth about $378,728,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Biogen by 49.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock worth $580,627,000 after buying an additional 691,843 shares in the last quarter. FIL Ltd grew its holdings in shares of Biogen by 936.4% during the fourth quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock worth $169,883,000 after buying an additional 593,158 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Biogen by 141.0% during the fourth quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock worth $252,898,000 after buying an additional 571,795 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

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.