Shares of Biogen Inc (BIIB) stock are down more than 28% after the company discontinued Phase 3 trials of its Alzheimer’s Disease treatment drug Aducanumab. The termination of the late-stage study follows released analysis from an independent data monitoring committee reflecting poor efficacy.
BIIB stock has fallen -28.5% while the S&P 500 is higher by 0.41% as of 10:59 AM on Thursday, Mar 21. Biogen stock is lower by -$91.38 from the previous closing price of $320.59 on volume of 9,188,256 shares. Over the past year the S&P 500 is higher by 4.56% while BIIB stock is lower by -17.34%. BIIB stock earned $21.60 a share in the over the last 12 months, giving it a price-to-earnings ratio of 10.65.
Meanwhile, the major indices are rising. The NASDAQ is up 0.77%. The Dow Jones Industrial Average is higher by 0.44%. The S&P 500 is up 0.41%.
Biogen stock is lower by -17.34% over the last 12 months, and the average rating from Wall Street analysts is a Moderate Buy. In addition to the average rating from Wall Street analysts, BIIB stock has a mean target price of $379.56. This means analysts expect the stock to add 65.59% over the next 12 months.
Stock Score Report, InvestorsObserver’s proprietary scoring system, gives BIIB stock a score of 43 out of a possible 100. That score is based on three component scores. A fundamental score of 98, a long-term technical score of 21 and a short-term technical score of 10. Our proprietary system combines short and long-term technical factors, Wall Street’s opinion, and other fundamental factors into an overall score that measures a stock’s suitability for investment.