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

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on BIIB. Weiss Ratings restated a “hold (c-)” rating on shares of Biogen in a research report on Monday, December 29th. BMO Capital Markets lifted their price objective on shares of Biogen from $150.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, December 18th. Rothschild & Co Redburn upped their price objective on shares of Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Wedbush lifted their target price on shares of Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Finally, Wells Fargo & Company raised their target price on Biogen from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $187.81.

Biogen Stock Down 4.2%

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 firm’s 50-day moving average price is $174.31 and its 200 day moving average price is $151.34. The firm has a market capitalization of $25.05 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.13.

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

Hedge Funds Weigh In On Biogen

Several institutional investors and hedge funds have recently modified their holdings of BIIB. Advisory Services Network LLC raised its holdings in Biogen by 3.9% in the 3rd quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company’s stock valued at $251,000 after acquiring an additional 68 shares during the last quarter. CVA Family Office LLC increased its stake in Biogen by 18.1% in the third quarter. CVA Family Office LLC now owns 464 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 71 shares during the last quarter. Davis Investment Partners LLC increased its stake in shares of Biogen by 1.7% during the 4th quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company’s stock valued at $778,000 after acquiring an additional 71 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Biogen by 22.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 414 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 76 shares during the last quarter. Finally, Wedmont Private Capital grew its holdings in Biogen by 3.8% in the second quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company’s stock valued at $291,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors 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.