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

Biogen Inc. (NASDAQ:BIIB) shares hit a new 52-week low on Friday . The company traded as low as $153.37 and last traded at $153.48, with a volume of 38747 shares. The stock had previously closed at $155.33.

Wall Street Analyst Weigh In

A number of research firms have commented on BIIB. Robert W. Baird upped 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. Royal Bank of Canada reduced their price target on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Mizuho lowered their price objective on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Oppenheimer reduced their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Barclays lowered their price target on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Fourteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.25.

Biogen Stock Performance

The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08. The firm’s 50 day moving average is $171.21 and its 200-day moving average is $198.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.36 earnings per share. Sell-side analysts anticipate that Biogen Inc. will post 16.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biogen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen during the 2nd quarter worth $33,000. Ashton Thomas Securities LLC bought a new stake in Biogen during the third quarter valued at about $33,000. First Horizon Advisors Inc. boosted its holdings 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 acquiring an additional 49 shares during the period. Blue Trust Inc. increased its stake in shares of Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 127 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 93 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.