Biogen (NASDAQ:BIIB) Sets New 12-Month Low - Here's Why

Biogen Inc. (NASDAQ:BIIB - Get Free Report)'s stock price reached 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 changing hands. The stock had previously closed at $155.33.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BIIB. BMO Capital Markets dropped their price target 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. StockNews.com cut shares of Biogen from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Robert W. Baird increased their price target on Biogen from $294.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. HC Wainwright reissued a "buy" rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, October 31st. Finally, Royal Bank of Canada decreased their target price on Biogen from $292.00 to $269.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $249.80.

Biogen Stock Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The company's fifty day moving average price is $171.21 and its 200 day moving average price is $198.41. The company has a market cap of $21.86 billion, a PE ratio of 13.55, a P/E/G ratio of 1.83 and a beta of -0.08.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the business posted $4.36 EPS. The company's revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities research analysts predict that Biogen Inc. will post 16.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BIIB. 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 in the third quarter worth about $33,000. Blue Trust Inc. boosted its stake in Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company's stock valued at $38,000 after acquiring an additional 127 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Biogen by 39.8% during the 2nd 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. Finally, Venturi Wealth Management LLC increased its stake 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. 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.