Biogen (NASDAQ:BIIB) Reaches New 12-Month Low at $195.06

Biogen Inc. (NASDAQ:BIIB)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $195.06 and last traded at $195.76, with a volume of 47151 shares changing hands. The stock had previously closed at $196.80.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of research analyst reports. UBS Group cut their price target on Biogen from $276.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $315.00 to $240.00 in a report on Wednesday, February 14th. Piper Sandler decreased their target price on Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Truist Financial reaffirmed a “buy” rating and issued a $340.00 price target on shares of Biogen in a report on Monday, March 25th. Finally, Barclays reduced their price objective on Biogen from $230.00 to $215.00 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $298.96.

Biogen Stock Up 0.1 %

The company has a market cap of $28.63 billion, a P/E ratio of 24.66, a PEG ratio of 1.66 and a beta of -0.02. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $219.14 and a 200 day moving average price of $237.31.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the company earned $4.05 EPS. Equities research analysts forecast that Biogen Inc. will post 15.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Priya Singhal sold 419 shares of Biogen stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biogen

Several institutional investors have recently modified their holdings of the stock. ICICI Prudential Asset Management Co Ltd increased its stake in Biogen by 15.0% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock valued at $9,313,000 after purchasing an additional 4,693 shares in the last quarter. Boone Capital Management LLC grew its stake in Biogen by 52.9% in the third quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after acquiring an additional 33,238 shares during the period. iA Global Asset Management Inc. raised its holdings in Biogen by 35.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock worth $3,102,000 after buying an additional 3,145 shares during the period. Illinois Municipal Retirement Fund lifted its stake in Biogen by 13.8% in the third quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock valued at $17,577,000 after buying an additional 8,291 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Biogen by 6.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock valued at $1,251,000 after buying an additional 285 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.