Biogen (NASDAQ:BIIB) Hits New 1-Year Low – Should You Sell?

Shares of Biogen Inc. (NASDAQ:BIIB) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $139.71 and last traded at $142.66, with a volume of 97906 shares changing hands. The stock had previously closed at $140.98.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of analyst reports. Robert W. Baird boosted their price objective on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Morgan Stanley cut Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $285.00 to $204.00 in a research report on Thursday, October 31st. Raymond James reissued a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Mizuho decreased their price target on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Finally, Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and lowered their price objective for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Biogen presently has an average rating of “Hold” and an average price target of $230.00.

Biogen Stock Up 0.6 %

The stock has a market cap of $20.94 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 1.64 and a beta of -0.07. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average is $152.63 and its 200-day moving average is $182.79.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the firm posted $4.36 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. As a group, research analysts anticipate that Biogen Inc. will post 16.41 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Several institutional investors have recently modified their holdings of BIIB. AE Wealth Management LLC bought a new position in shares of Biogen during the 2nd quarter valued at about $259,000. Frank Rimerman Advisors LLC bought a new stake in Biogen during the second quarter worth approximately $273,000. Public Sector Pension Investment Board grew its position in Biogen by 77.1% in the second quarter. Public Sector Pension Investment Board now owns 5,661 shares of the biotechnology company’s stock worth $1,312,000 after buying an additional 2,465 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Biogen by 60.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,838 shares of the biotechnology company’s stock valued at $6,453,000 after buying an additional 10,539 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its position in shares of Biogen by 10.4% during the 2nd quarter. Insigneo Advisory Services LLC now owns 1,854 shares of the biotechnology company’s stock valued at $430,000 after acquiring an additional 174 shares during the last quarter. 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.