Biogen Inc. [BIIB] Stock trading around $305.71 per share: What’s Next?

Biogen Inc. [NASDAQ: BIIB] stock went on an upward path that rose over 10.10% on Friday, amounting to a one-week price increase of more than 11.29%. The company report on August 7, 2020 that FDA Accepts Biogen’s Aducanumab Biologics License Application for Alzheimer’s Disease with Priority Review.

Biogen (Nasdaq: BIIB) and Eisai, Co., Ltd. (Tokyo, Japan) today announced that the U.S. Food and Drug Administration (FDA) has accepted the Biologics License Application (BLA) for aducanumab, an investigational treatment for Alzheimer’s disease. The application has been granted Priority Review, with a Prescription Drug User Fee Act (PDUFA) action date on March 7, 2021, and the FDA has stated that, if possible, it plans to act early on this application under an expedited review. If approved, aducanumab would become the first therapy to reduce the clinical decline of Alzheimer’s disease and would also be the first therapy to demonstrate that removing amyloid beta resulted in better clinical outcomes.

“The FDA’s acceptance of the aducanumab BLA with Priority Review is an important step in the path to potentially having a treatment that meaningfully changes the course of Alzheimer’s disease,” said Michel Vounatsos, Chief Executive Officer at Biogen. “We look forward to working with the FDA throughout the review process and thank the thousands of clinicians, patients and caregivers who participated in our clinical trials and have accompanied us on this journey. We believe that aducanumab marks the beginning of a new era of potential treatments for Alzheimer’s disease that will inspire even more discovery and innovation to bring hope to those affected by this devastating disease.” .

Over the last 12 months, BIIB stock rose by 28.33%. The one-year Biogen Inc. stock forecast points to a potential downside of -1.72. The average equity rating for BIIB stock is currently 2.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $43.96 billion, with 160.60 million shares outstanding and 157.34 million shares in the current float. Compared to the average trading volume of 1.50M shares, BIIB stock reached a trading volume of 4447094 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Biogen Inc. [BIIB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BIIB shares is $300.54 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BIIB stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Biogen Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 27, 2020. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $303 to $273. The new note on the price target was released on June 22, 2020, representing the official price target for Biogen Inc. stock. Previously, the target price had yet another drop from $370 to $280, while Barclays kept a Equal Weight rating on BIIB stock. On June 09, 2020, analysts decreased their price target for BIIB shares from 360 to 297.

The Average True Range (ATR) for Biogen Inc. is set at 8.44, with the Price to Sales ratio for BIIB stock in the period of the last 12 months amounting to 3.03. The Price to Book ratio for the last quarter was 4.34, with the Price to Cash per share for the same quarter was set at 30.10. Price to Free Cash Flow for BIIB in the course of the last twelve months was 6.47 with Quick ratio for the last quarter at 2.20.

BIIB Stock Performance Analysis:

Biogen Inc. [BIIB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.29. With this latest performance, BIIB shares gained by 9.69% in over the last four-week period, additionally sinking by -9.74% over the last 6 months – not to mention a rise of 28.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BIIB stock in for the last two-week period is set at 67.66, with the RSI for the last a single of trading hit 77.20, and the three-weeks RSI is set at 62.97 for Biogen Inc. [BIIB]. The present Moving Average for the last 50 days of trading for this stock 280.03, while it was recorded at 282.76 for the last single week of trading, and 296.89 for the last 200 days.

Insight into Biogen Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Biogen Inc. [BIIB] shares currently have an operating margin of +45.85 and a Gross Margin at +80.97. Biogen Inc.’s Net Margin is presently recorded at +46.32.

Return on Total Capital for BIIB is now 30.09, given the latest momentum, and Return on Invested Capital for the company is 31.67. Return on Equity for this stock inclined to 44.64, with Return on Assets sitting at 22.42. When it comes to the capital structure of this company, Biogen Inc. [BIIB] has a Total Debt to Total Equity ratio set at 48.27. Additionally, BIIB Total Debt to Total Capital is recorded at 32.56, with Total Debt to Total Assets ending up at 23.65. Long-Term Debt to Equity for the company is recorded at 36.51, with the Long-Term Debt to Total Capital now at 24.62.

Reflecting on the efficiency of the workforce at the company, Biogen Inc. [BIIB] managed to generate an average of $795,743 per employee. Receivables Turnover for the company is 5.13 with a Total Asset Turnover recorded at a value of 0.48.Biogen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.50.

BIIB Stock EPS

With the latest financial reports released by the company, Biogen Inc. posted 9.17/share EPS, while the average EPS was predicted by analysts to be reported at 8.27/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BIIB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Biogen Inc. go to -1.37%.

Biogen Inc. [BIIB] Insider Position Details

There are presently around $44,474 million, or 94.40% of BIIB stock, in the hands of institutional investors. The top three institutional holders of BIIB stocks are: BLACKROCK INC. with ownership of 16,043,037, which is approximately 2.455% of the company’s market cap and around 0.20% of the total institutional ownership; PRIMECAP MANAGEMENT CO/CA/, holding 15,965,989 shares of the stock with an approximate value of $4.88 billion in BIIB stocks shares; and VANGUARD GROUP INC, currently with $4.35 billion in BIIB stock with ownership of nearly 2.651% of the company’s market capitalization.

Positions in Biogen Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 422 institutional holders increased their position in Biogen Inc. [NASDAQ:BIIB] by around 10,543,383 shares. Additionally, 605 investors decreased positions by around 15,598,535 shares, while 173 investors held positions by with 119,335,338 shares. The mentioned changes placed institutional holdings at 145,477,256 shares, according to the latest SEC report filing. BIIB stock had 102 new institutional investments in for a total of 1,248,341 shares, while 115 institutional investors sold positions of 1,351,000 shares during the same period.

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