Biogen Inc. (NASDAQ:BIIB - Get Free Report)'s share price reached a new 52-week low on Thursday . The company traded as low as $146.57 and last traded at $146.79, with a volume of 1494882 shares traded. The stock had previously closed at $150.64.
Analyst Ratings Changes
BIIB has been the topic of several recent analyst reports. Barclays reduced their target price on Biogen from $190.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus downgraded shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 price objective on the stock. in a report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Biogen from $220.00 to $210.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Raymond James reissued a "market perform" rating on shares of Biogen in a research report on Thursday, October 10th. Finally, Oppenheimer decreased their price target on shares of Biogen from $270.00 to $255.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $245.32.
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Biogen Stock Up 0.4 %
The business's fifty day simple moving average is $168.32 and its two-hundred day simple moving average is $196.45. The company has a market cap of $21.48 billion, a PE ratio of 13.31, a PEG ratio of 1.83 and a beta of -0.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.
Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.36 EPS. On average, analysts predict that Biogen Inc. will post 16.43 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in BIIB. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 127 shares during the period. First Horizon Advisors Inc. increased its stake in Biogen by 39.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company's stock worth $40,000 after buying an additional 49 shares in the last quarter. Summit Global Investments purchased a new stake in Biogen during the 2nd quarter worth approximately $223,000. Fifth Third Bancorp raised its holdings in shares of Biogen by 18.5% during the second quarter. Fifth Third Bancorp now owns 3,536 shares of the biotechnology company's stock valued at $820,000 after acquiring an additional 551 shares during the last quarter. Finally, &PARTNERS purchased a new position in shares of Biogen in the second quarter valued at approximately $291,000. Hedge funds and other institutional investors own 87.93% of the company's stock.
About Biogen
(
Get Free Report)
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.
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