Biogen Inc. [NASDAQ: BIIB] stock went on an upward path that rose over 9.46% on Wednesday, amounting to a one-week price increase of more than 10.08%. The company report on December 23, 2021 that INVESTIGATIONAL ALZHEIMER’S DISEASE THERAPY LECANEMAB GRANTED FDA FAST TRACK DESIGNATION.
Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, “Eisai”) and Biogen Inc. (Nasdaq: BIIB, Corporate headquarters: Cambridge, Massachusetts, CEO: Michel Vounatsos, “Biogen”) announced today that lecanemab, an investigational anti-amyloid beta (Aβ) protofibril antibody for the treatment of early Alzheimer’s disease (AD), was granted Fast Track designation by the U.S. Food and Drug Administration (FDA). FDA granted Breakthrough Therapy designation for lecanemab in June of 2021. Breakthrough Therapy designation and Fast Track designation are two FDA programs that are intended to facilitate and expedite development of new drugs to address unmet medical need in the treatment of a serious or life-threatening condition such as AD and provide opportunities for frequent interactions with the FDA..
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In September 2021, Eisai initiated a rolling submission to the FDA of a Biologics License application (BLA) for lecanemab under the accelerated approval pathway. The BLA is primarily based on clinical, biomarker and safety data from the Phase 2b clinical study (Study 201) in people with early AD and confirmed amyloid pathology, and non-clinical and clinical parts of the application which consists of three parts (non-clinical, clinical and CMC) have already been submitted. The lecanemab Phase 2b study results demonstrated a high degree of Aβ plaque lowering and consistent reduction of clinical decline across several clinical endpoints. The correlation between the extent of Aβ plaque reduction and effect on clinical endpoints in Study 201 further supports Aβ as a surrogate endpoint that is reasonably likely to predict clinical benefit.
Over the last 12 months, BIIB stock rose by 6.10%. The one-year Biogen Inc. stock forecast points to a potential upside of 20.4. The average equity rating for BIIB stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $37.79 billion, with 148.00 million shares outstanding and 145.87 million shares in the current float. Compared to the average trading volume of 1.18M shares, BIIB stock reached a trading volume of 6806960 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 $324.50 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 2.30. 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.
Raymond James have made an estimate for Biogen Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on December 10, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Equal Weight. The new note on the price target was released on December 09, 2021, representing the official price target for Biogen Inc. stock. Previously, the target price had yet another raise to $271, while Goldman analysts kept a Neutral rating on BIIB stock.
The Average True Range (ATR) for Biogen Inc. is set at 8.18, with the Price to Sales ratio for BIIB stock in the period of the last 12 months amounting to 3.40. The Price to Book ratio for the last quarter was 3.67, with the Price to Cash per share for the same quarter was set at 20.20. Price to Free Cash Flow for BIIB in the course of the last twelve months was 15.64 with Quick ratio for the last quarter at 1.40.
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 10.08. With this latest performance, BIIB shares gained by 9.40% in over the last four-week period, additionally sinking by -25.40% over the last 6 months – not to mention a rise of 6.10% 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 66.58, with the RSI for the last a single of trading hit 78.31, and the three-weeks RSI is set at 58.08 for Biogen Inc. [BIIB]. The present Moving Average for the last 50 days of trading for this stock 251.72, while it was recorded at 239.68 for the last single week of trading, and 295.09 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 +30.76 and a Gross Margin at +81.69. Biogen Inc.’s Net Margin is presently recorded at +32.38.
Return on Total Capital for BIIB is now 19.80, given the latest momentum, and Return on Invested Capital for the company is 21.78. Return on Equity for this stock inclined to 33.28, with Return on Assets sitting at 15.43. When it comes to the capital structure of this company, Biogen Inc. [BIIB] has a Total Debt to Total Equity ratio set at 73.94. Additionally, BIIB Total Debt to Total Capital is recorded at 42.51, with Total Debt to Total Assets ending up at 32.14. Long-Term Debt to Equity for the company is recorded at 73.16, with the Long-Term Debt to Total Capital now at 42.06.
Reflecting on the efficiency of the workforce at the company, Biogen Inc. [BIIB] managed to generate an average of $439,626 per employee. Receivables Turnover for the company is 5.15 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 1.40 and a Current Ratio set at 1.70.
BIIB Stock EPS
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 -6.50%.
Biogen Inc. [BIIB] Insider Position Details
There are presently around $29,474 million, or 86.70% 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 16,258,915, which is approximately -1.213% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 13,896,253 shares of the stock with an approximate value of $3.28 billion in BIIB stocks shares; and VANGUARD GROUP INC, currently with $2.76 billion in BIIB stock with ownership of nearly -0.523% of the company’s market capitalization.
Positions in Biogen Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 428 institutional holders increased their position in Biogen Inc. [NASDAQ:BIIB] by around 7,349,243 shares. Additionally, 523 investors decreased positions by around 8,695,338 shares, while 214 investors held positions by with 108,848,588 shares. The mentioned changes placed institutional holdings at 124,893,169 shares, according to the latest SEC report filing. BIIB stock had 72 new institutional investments in for a total of 1,305,917 shares, while 128 institutional investors sold positions of 1,597,401 shares during the same period.