Saturday, November 28, 2020

Biogen Inc. [BIIB] fell -9.38% so far this year. What now?

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Biogen Inc. [NASDAQ: BIIB] stock went on an upward path that rose over 0.67% on Wednesday, amounting to a one-week price decrease of less than -6.96%. The company report on October 20, 2020 that Abarca Details First Value-Based Agreement For Medicaid Members Prescribed Biogen Products.

Case Study highlights how a Medicaid Plan now receives rebates from Biogen for patients who discontinued their treatment with Avonex® (interferon beta-1a) and Tecfidera® (dimethyl fumarate).


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Abarca, a pharmacy benefit manager (PBM) that is disrupting the industry with a new approach to technology and business practices released a new case study detailing a value-based agreement with Biogen Inc. (NASDAQ: BIIB) for Avonex® (interferon beta-1a) and Tecfidera® (dimethyl fumarate), select products in the drug maker’s leading multiple sclerosis (MS) portfolio. Originally launched in 2017, this was the first publicly disclosed value-based agreement to serve Medicaid populations.

Over the last 12 months, BIIB stock dropped by -4.60%. The one-year Biogen Inc. stock forecast points to a potential upside of 11.84. 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 $42.67 billion, with 160.60 million shares outstanding and 157.33 million shares in the current float. Compared to the average trading volume of 1.15M shares, BIIB stock reached a trading volume of 1848431 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 $305.04 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 7.31, with the Price to Sales ratio for BIIB stock in the period of the last 12 months amounting to 2.95. The Price to Book ratio for the last quarter was 3.82, with the Price to Cash per share for the same quarter was set at 27.28. Price to Free Cash Flow for BIIB in the course of the last twelve months was 6.28 with Quick ratio for the last quarter at 2.20.

BIIB Stock Performance Analysis:

Biogen Inc. [BIIB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.96. With this latest performance, BIIB shares dropped by -1.41% in over the last four-week period, additionally sinking by -7.99% over the last 6 months – not to mention a drop of -4.60% 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 39.40, with the RSI for the last a single of trading hit 33.20, and the three-weeks RSI is set at 42.52 for Biogen Inc. [BIIB]. The present Moving Average for the last 50 days of trading for this stock 279.50, while it was recorded at 273.09 for the last single week of trading, and 293.31 for the last 200 days.

Insight into Biogen Inc. Fundamentals:

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 -2.95%.

Biogen Inc. [BIIB] Insider Position Details

There are presently around $36,498 million, or 88.00% of BIIB stock, in the hands of institutional investors. The top three institutional holders of BIIB stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 15,631,932, which is approximately -2.092% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 14,599,456 shares of the stock with an approximate value of $3.93 billion in BIIB stocks shares; and VANGUARD GROUP INC, currently with $3.46 billion in BIIB stock with ownership of nearly -9.567% of the company’s market capitalization.

428 institutional holders increased their position in Biogen Inc. [NASDAQ:BIIB] by around 8,802,054 shares. Additionally, 554 investors decreased positions by around 18,397,001 shares, while 190 investors held positions by with 108,526,367 shares. The mentioned changes placed institutional holdings at 135,725,422 shares, according to the latest SEC report filing. BIIB stock had 92 new institutional investments in for a total of 644,750 shares, while 124 institutional investors sold positions of 1,697,477 shares during the same period.

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