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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Oppenheimer lowered their price target on shares of Biogen from $295.00 to $290.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. HC Wainwright restated a “buy” rating and set a $325.00 target price on shares of Biogen in a report on Wednesday, February 14th. Truist Financial restated a “buy” rating and set a $340.00 target price on shares of Biogen in a report on Monday, March 25th. Bank Of America (Bofa) dropped their target price on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $311.00 target price on shares of Biogen in a report on Tuesday, February 20th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $297.73.

Biogen Price Performance

The company’s 50-day moving average is $217.16 and its 200-day moving average is $236.56. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The firm has a market capitalization of $27.93 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.87 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the business posted $4.05 earnings per share. On average, research analysts expect that Biogen Inc. will post 15.48 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new position in Biogen in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in Biogen in the third quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new position in Biogen in the fourth quarter valued at approximately $26,000. Rise Advisors LLC purchased a new position in Biogen in the first quarter valued at approximately $27,000. Finally, Gladius Capital Management LP purchased a new position in Biogen in the third quarter valued at approximately $28,000. Hedge funds and other institutional investors 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.