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

Biogen Inc. (NASDAQ:BIIB)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $176.71 and last traded at $177.85, with a volume of 11971 shares trading hands. The stock had previously closed at $181.18.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Mizuho lowered their price target on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. BMO Capital Markets decreased their target price on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company decreased their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and issued a $300.00 target price on shares of Biogen in a research report on Thursday. Finally, Piper Sandler decreased their target price on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.39.

Biogen Trading Down 2.8 %

The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The firm’s 50 day simple moving average is $193.92 and its two-hundred day simple moving average is $209.77. The stock has a market cap of $25.65 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm earned $4.36 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Biogen Inc. will post 16.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Biogen

Large investors have recently modified their holdings of the company. Plato Investment Management Ltd grew its position in Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Biogen during the 2nd quarter valued at about $33,000. Versant Capital Management Inc lifted its stake in Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 85 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Biogen during the first quarter valued at about $36,000. Finally, First Horizon Advisors Inc. lifted its stake in Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds 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.