Biogen (NASDAQ:BIIB) Reaches New 12-Month Low at $208.75

Biogen Inc. (NASDAQ:BIIB - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $208.75 and last traded at $209.43, with a volume of 235553 shares. The stock had previously closed at $214.83.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BIIB shares. Needham & Company LLC reduced their price objective on shares of Biogen from $305.00 to $300.00 and set a "buy" rating for the company in a research note on Tuesday, February 13th. Stifel Nicolaus reduced their price objective on shares of Biogen from $315.00 to $287.00 and set a "buy" rating for the company in a research note on Thursday, December 14th. Canaccord Genuity Group dropped their target price on shares of Biogen from $310.00 to $305.00 and set a "buy" rating on the stock in a report on Tuesday, February 20th. StockNews.com cut shares of Biogen from a "buy" rating to a "hold" rating in a report on Tuesday, February 20th. Finally, Raymond James raised shares of Biogen from a "market perform" rating to an "outperform" rating and set a $283.00 target price on the stock in a report on Thursday, December 7th. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, Biogen presently has an average rating of "Moderate Buy" and a consensus price target of $305.68.

Biogen Trading Down 3.3 %

The stock has a fifty day moving average of $227.73 and a 200 day moving average of $241.08. The company has a market capitalization of $30.18 billion, a P/E ratio of 26.02, a PEG ratio of 1.80 and a beta of -0.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly 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 business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same period in the prior year, the business earned $4.05 earnings per share. As a group, equities research analysts anticipate that Biogen Inc. will post 15.48 EPS for the current fiscal year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Eric K. Rowinsky purchased 455 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Priya Singhal sold 419 shares of the business's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company's stock, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 789 shares of company stock valued at $182,213. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Altshuler Shaham Ltd purchased a new position in shares of Biogen during the fourth quarter valued at approximately $25,000. Livelsberger Financial Advisory bought a new stake in shares of Biogen during the fourth quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in shares of Biogen during the third quarter valued at approximately $26,000. Gladius Capital Management LP bought a new stake in shares of Biogen during the third quarter valued at approximately $29,000. Finally, Hexagon Capital Partners LLC raised its stake in shares of Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors 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.