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

Shares of Biogen Inc. (NASDAQ:BIIB) reached a new 52-week low during trading on Tuesday . The stock 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.

Analyst Ratings Changes

Several analysts recently commented on BIIB shares. Needham & Company LLC dropped their price target on shares of Biogen from $305.00 to $300.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. Robert W. Baird decreased their price objective on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $311.00 price objective on shares of Biogen in a report on Tuesday, February 20th. UBS Group decreased their price objective on shares of Biogen from $276.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.73.

Biogen Stock Down 1.5 %

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 business’s 50 day simple moving average is $217.16 and its 200 day simple moving average is $236.56. The company has a market capitalization of $27.93 billion, a PE ratio of 24.08, a P/E/G ratio of 1.87 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the business earned $4.05 earnings per share. As a group, analysts anticipate that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In related news, Director Eric K. Rowinsky purchased 455 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Eric K. Rowinsky purchased 455 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Priya Singhal sold 419 shares of Biogen stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock worth $202,030 over the last three months. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd acquired a new position in shares of Biogen in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new position in shares of Biogen in the third quarter valued at approximately $26,000. Livelsberger Financial Advisory acquired a new position in shares of Biogen in the fourth quarter valued at approximately $26,000. Rise Advisors LLC acquired a new position in shares of Biogen in the first quarter valued at approximately $27,000. Finally, Gladius Capital Management LP acquired a new position in shares of Biogen in the third quarter valued at approximately $28,000. 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.