Biogen (NASDAQ:BIIB) Sets New 12-Month Low – What’s Next?

Shares of Biogen Inc. (NASDAQ:BIIB) hit a new 52-week low on Tuesday . The company traded as low as $144.54 and last traded at $145.13, with a volume of 496636 shares changing hands. The stock had previously closed at $150.18.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BIIB shares. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday. Oppenheimer cut their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Barclays lowered their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. BMO Capital Markets downgraded shares of Biogen from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $230.00 to $164.00 in a research report on Friday, December 20th. Finally, Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Biogen presently has a consensus rating of “Hold” and an average target price of $230.00.

Biogen Price Performance

The company has a market capitalization of $20.58 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.69 and a beta of -0.07. The business has a fifty day moving average price of $155.57 and a 200 day moving average price of $185.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in Biogen in the 2nd quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new stake in Biogen during the third quarter valued at approximately $33,000. Venturi Wealth Management LLC grew its position in Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after buying an additional 93 shares during the last quarter. FSA Wealth Management LLC bought a new position in shares of Biogen in the third quarter valued at $74,000. Finally, TD Private Client Wealth LLC lifted its position in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

About Biogen

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.