Analysts at Royal Bank Of Canada assumed coverage on shares of Biogen Inc. (NASDAQ:BIIB) in a note issued to investors on Thursday. The firm set a “sector perform” rating and a $319.00 price target on the biotechnology company’s stock. Royal Bank Of Canada’s price target points to a potential downside of 0.65% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price target for the company in a research report on Tuesday, June 27th. Deutsche Bank AG began coverage on shares of Biogen in a research report on Friday, June 23rd. They set a “buy” rating and a $315.00 price target for the company. Robert W. Baird reaffirmed a “hold” rating and set a $290.00 price target on shares of Biogen in a research report on Friday, August 25th. Credit Suisse Group set a $300.00 price target on shares of Biogen and gave the company a “hold” rating in a research report on Friday, July 14th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $277.00 price target on shares of Biogen in a research report on Thursday, May 25th. Thirteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Biogen has an average rating of “Buy” and a consensus price target of $331.53.
Biogen (NASDAQ BIIB) opened at 321.26 on Thursday. The company’s 50-day moving average is $298.79 and its 200 day moving average is $278.33. Biogen has a 52-week low of $244.28 and a 52-week high of $330.00. The company has a market cap of $67.92 billion, a price-to-earnings ratio of 21.08 and a beta of 0.77.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm earned $5.21 EPS. Biogen’s revenue was up 6.4% on a year-over-year basis. Equities analysts forecast that Biogen will post $21.48 earnings per share for the current fiscal year.
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In other news, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the sale, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of BIIB. Pathstone Family Office LLC purchased a new stake in shares of Biogen during the 1st quarter worth approximately $102,000. Prentiss Smith & Co. Inc. raised its holdings in Biogen by 14.9% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares during the period. Atlantic Trust LLC purchased a new stake in Biogen during the 2nd quarter valued at $114,000. Independent Portfolio Consultants Inc. raised its holdings in Biogen by 93.2% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the period. Finally, Winfield Associates Inc. raised its holdings in Biogen by 16.8% during the 1st quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares during the period. 87.26% of the stock is currently owned by institutional investors and hedge funds.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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