Biogen (NASDAQ:BIIB) Trading Down 5.9% – Time to Sell?

Biogen Inc. (NASDAQ:BIIB) shares fell 5.9% during mid-day trading on Wednesday . The stock 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.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BIIB shares. HSBC reiterated a “reduce” rating and issued a $143.00 target price (down previously from $144.00) on shares of Biogen in a research note on Wednesday, December 10th. Wedbush lifted their target price on shares of Biogen from $135.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Sanford C. Bernstein increased their price target on Biogen from $157.00 to $197.00 and gave the company a “market perform” rating in a report on Friday, January 9th. Hsbc Global Res lowered Biogen from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 10th. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a report on Wednesday, September 24th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $190.50.

Biogen Trading Down 2.5%

The stock has a market cap of $24.12 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.41 and a beta of 0.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04. The stock’s 50-day moving average is $175.04 and its two-hundred day moving average is $151.86.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the firm earned $4.08 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Institutional Investors Weigh In On Biogen

Several hedge funds have recently made changes to their positions in BIIB. Elevation Point Wealth Partners LLC purchased a new stake in Biogen during the second quarter worth $25,000. Rothschild Investment LLC increased its holdings in Biogen by 64.7% in the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after buying an additional 88 shares during the period. Accredited Wealth Management LLC raised its holdings in shares of Biogen by 1,233.3% during the third quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 185 shares during the last quarter. Concord Wealth Partners raised its holdings in Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 114 shares during the period. Finally, NewSquare Capital LLC boosted its position in Biogen by 134.6% during the second quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 140 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

About Biogen

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.