Biogen (NASDAQ:BIIB) Reaches New 1-Year Low - What's Next?

Biogen Inc. (NASDAQ:BIIB - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $144.54 and last traded at $145.13, with a volume of 496636 shares trading hands. The stock had previously closed at $150.18.

Analyst Ratings Changes

BIIB has been the subject of a number of recent research reports. Robert W. Baird boosted their price target 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. Jefferies Financial Group downgraded shares of Biogen from a "buy" rating to a "hold" rating and decreased their target price for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Mizuho dropped their price target 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. UBS Group cut their price target on Biogen from $234.00 to $202.00 and set a "neutral" rating for the company in a research note on Thursday, October 3rd. Finally, BMO Capital Markets downgraded Biogen from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $230.00 to $164.00 in a research note on Friday, December 20th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $230.00.

Biogen Price Performance

The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The stock has a market cap of $20.85 billion, a PE ratio of 12.92, a PEG ratio of 1.74 and a beta of -0.07. The business has a 50-day moving average price of $156.24 and a 200 day moving average price of $186.11.

Biogen (NASDAQ:BIIB - Get Free Report) last released 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. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company's revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.36 earnings per share. As a group, research analysts forecast that Biogen Inc. will post 16.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biogen

Several hedge funds have recently made changes to their positions in BIIB. Itau Unibanco Holding S.A. purchased a new stake in Biogen during the 2nd quarter worth about $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Biogen during the third quarter valued at about $33,000. Venturi Wealth Management LLC lifted its holdings in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock worth $42,000 after buying an additional 93 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Biogen by 228.7% in the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company's stock valued at $61,000 after acquiring an additional 279 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in Biogen during the third quarter valued at approximately $74,000. 87.93% of the stock is currently 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.