Biogen (NASDAQ:BIIB) Hits New 12-Month Low – Should You Sell?

Shares of Biogen Inc. (NASDAQ:BIIB) reached a new 52-week low on Tuesday . The stock traded as low as $139.48 and last traded at $140.39, with a volume of 333131 shares. The stock had previously closed at $142.54.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BIIB. Sanford C. Bernstein began coverage on Biogen in a research report on Tuesday. They issued a “market perform” rating and a $160.00 target price for the company. Piper Sandler cut shares of Biogen from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $315.00 to $138.00 in a report on Thursday, January 2nd. TD Cowen decreased their target price on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. BMO Capital Markets lowered shares of Biogen from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $230.00 to $164.00 in a research note on Friday, December 20th. Finally, Citigroup reduced their price objective on Biogen from $190.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Seventeen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $226.15.

Biogen Stock Performance

The firm has a market capitalization of $20.27 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The business’s fifty day simple moving average is $148.71 and its 200-day simple moving average is $174.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Hedge Funds Weigh In On Biogen

A number of large investors have recently bought and sold shares of BIIB. Larson Financial Group LLC lifted its stake in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 141 shares during the period. Lee Danner & Bass Inc. purchased a new position in shares of Biogen in the 4th quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in shares of Biogen in the fourth quarter worth $32,000. Ashton Thomas Securities LLC acquired a new position in shares of Biogen in the third quarter valued at about $33,000. Finally, SRS Capital Advisors Inc. purchased a new position in Biogen during the 4th quarter worth approximately $33,000. 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.