Biogen (NASDAQ:BIIB) Price Target Cut to $225.00 by Analysts at Royal Bank of Canada

Biogen (NASDAQ:BIIB) had its target price decreased by analysts at Royal Bank of Canada from $231.00 to $225.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 63.84% from the company’s current price.

Several other equities analysts also recently commented on the company. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a research report on Monday, December 16th. BMO Capital Markets cut shares of Biogen from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $230.00 to $164.00 in a report on Friday, December 20th. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $285.00 to $204.00 in a report on Thursday, October 31st. Sanford C. Bernstein assumed coverage on shares of Biogen in a research report on Tuesday. They set a “market perform” rating and a $160.00 target price on the stock. Finally, Robert W. Baird boosted their price target on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $211.96.

Biogen Trading Down 0.8 %

BIIB stock opened at $137.33 on Thursday. Biogen has a twelve month low of $128.51 and a twelve month high of $238.00. The stock has a market capitalization of $20.01 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $147.31 and its two-hundred day simple moving average is $173.80.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. As a group, analysts anticipate that Biogen will post 16.42 earnings per share for the current year.

Institutional Investors Weigh In On Biogen

Large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC increased its stake in Biogen by 4,516.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,662 shares of the biotechnology company’s stock valued at $322,000 after purchasing an additional 1,626 shares in the last quarter. Swedbank AB increased its position in shares of Biogen by 85.0% in the 3rd quarter. Swedbank AB now owns 185,008 shares of the biotechnology company’s stock valued at $35,862,000 after acquiring an additional 84,981 shares during the period. Kapitalo Investimentos Ltda purchased a new position in Biogen in the 3rd quarter worth $227,000. Sumitomo Life Insurance Co. lifted its position in Biogen by 4.3% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 3,906 shares of the biotechnology company’s stock worth $757,000 after acquiring an additional 162 shares during the period. Finally, nVerses Capital LLC purchased a new stake in Biogen during the 3rd quarter valued at about $388,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.