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

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Needham & Company LLC lowered their price objective on Biogen from $305.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. Robert W. Baird lowered their price objective on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Piper Sandler lowered their price objective on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Finally, Bank Of America (Bofa) lowered their price objective on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $298.96.

Biogen Stock Performance

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 business’s 50 day simple moving average is $219.14 and its 200 day simple moving average is $237.31. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same quarter in the previous year, the business posted $4.05 EPS. Sell-side analysts predict that Biogen Inc. will post 15.45 earnings per share for the current fiscal year.

Insider Activity at Biogen

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

Institutional Trading of Biogen

A number of large investors have recently made changes to their positions in the stock. Dohj LLC raised its holdings in shares of Biogen by 78.4% in the first quarter. Dohj LLC now owns 6,556 shares of the biotechnology company’s stock valued at $1,414,000 after acquiring an additional 2,881 shares in the last quarter. Cardinal Capital Management raised its holdings in shares of Biogen by 10.3% in the first quarter. Cardinal Capital Management now owns 30,467 shares of the biotechnology company’s stock valued at $6,570,000 after acquiring an additional 2,845 shares in the last quarter. Cairn Investment Group Inc. raised its holdings in Biogen by 1.9% in the first quarter. Cairn Investment Group Inc. now owns 11,333 shares of the biotechnology company’s stock worth $2,444,000 after purchasing an additional 207 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in Biogen by 106.9% in the first quarter. Sunbelt Securities Inc. now owns 627 shares of the biotechnology company’s stock worth $135,000 after purchasing an additional 324 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in Biogen in the first quarter worth about $336,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

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.