Biogen (NASDAQ:BIIB) Stock Price Down 5.9% – What’s Next?

Biogen Inc. (NASDAQ:BIIB) shares traded down 5.9% on Wednesday . The company traded as low as $166.50 and last traded at $167.8290. 430,746 shares were traded during mid-day trading, a decline of 71% from the average session volume of 1,468,718 shares. The stock had previously closed at $178.30.

Analyst Upgrades and Downgrades

BIIB has been the topic of several research reports. Tudor Pickering set a $157.00 target price on Biogen in a research report on Monday, November 3rd. Citigroup lifted their price objective on Biogen from $153.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada restated an “outperform” rating on shares of Biogen in a report on Tuesday. Mizuho upped their price target on shares of Biogen from $169.00 to $177.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Finally, Morgan Stanley lifted their price objective on shares of Biogen from $149.00 to $156.00 and gave the company an “equal weight” rating in a research note on Friday, December 12th. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Biogen has an average rating of “Hold” and an average price target of $187.81.

Biogen Stock Performance

The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average is $174.31 and its two-hundred day moving average is $151.34. The stock has a market capitalization of $25.05 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.55 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the company posted $4.08 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several institutional investors have recently bought and sold shares of BIIB. Banque Pictet & Cie SA raised its position in shares of Biogen by 5.5% in the second quarter. Banque Pictet & Cie SA now owns 72,025 shares of the biotechnology company’s stock valued at $9,046,000 after purchasing an additional 3,751 shares during the period. Generali Investments CEE investicni spolecnost a.s. boosted its holdings in shares of Biogen by 43.2% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock worth $4,867,000 after buying an additional 11,695 shares during the period. Valeo Financial Advisors LLC acquired a new position in Biogen in the 2nd quarter valued at $225,000. Privium Fund Management B.V. bought a new position in Biogen in the 2nd quarter worth $2,666,000. Finally, Nordea Investment Management AB lifted its position in Biogen by 5.7% during the 2nd quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock worth $15,810,000 after acquiring an additional 6,811 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Company Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.