Biogen Inc. (BIIB) Earns “Hold” Rating from Royal Bank Of Canada

Royal Bank Of Canada reissued their hold rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research note published on Thursday. The brokerage currently has a $315.00 price objective on the biotechnology company’s stock.

Other equities research analysts have also issued reports about the stock. Vetr lowered shares of Biogen from a strong-buy rating to a buy rating and set a $309.45 target price for the company. in a research note on Wednesday, July 5th. Deutsche Bank AG started coverage on shares of Biogen in a research note on Friday, June 23rd. They set a buy rating and a $315.00 target price for the company. ValuEngine upgraded shares of Biogen from a hold rating to a buy rating in a research note on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a neutral rating to a buy rating and boosted their target price for the company from $228.00 to $338.00 in a research note on Wednesday, July 26th. Finally, Cowen and Company reissued a buy rating on shares of Biogen in a research report on Thursday, July 27th. Thirteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $330.66.

Biogen (BIIB) opened at 327.48 on Thursday. Biogen has a one year low of $244.28 and a one year high of $330.98. The firm’s 50-day moving average price is $311.50 and its 200 day moving average price is $281.29. The company has a market capitalization of $69.24 billion, a price-to-earnings ratio of 21.49 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.21 EPS. On average, equities research analysts expect that Biogen will post $21.53 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Biogen Inc. (BIIB) Earns “Hold” Rating from Royal Bank Of Canada” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another domain, it was illegally copied and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at https://ledgergazette.com/2017/10/08/biogen-inc-biib-earns-hold-rating-from-royal-bank-of-canada.html.

In other news, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were 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 in the company, valued at approximately $7,761,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the sale, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in BIIB. Waldron LP raised its position in shares of Biogen by 17.0% during the 1st quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock valued at $826,000 after buying an additional 439 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Biogen during the 1st quarter valued at about $1,449,000. Symphony Asset Management LLC raised its position in shares of Biogen by 3.8% during the 1st quarter. Symphony Asset Management LLC now owns 5,774 shares of the biotechnology company’s stock valued at $1,578,000 after buying an additional 212 shares in the last quarter. Commerce Bank raised its position in shares of Biogen by 2.5% during the 1st quarter. Commerce Bank now owns 28,504 shares of the biotechnology company’s stock valued at $7,794,000 after buying an additional 682 shares in the last quarter. Finally, Peddock Capital Advisors LLC raised its position in shares of Biogen by 26.1

Other equities research analysts have also issued reports about the stock. Vetr lowered shares of Biogen from a strong-buy rating to a buy rating and set a $309.45 target price for the company. in a research note on Wednesday, July 5th. Deutsche Bank AG started coverage on shares of Biogen in a research note on Friday, June 23rd. They set a buy rating and a $315.00 target price for the company. ValuEngine upgraded shares of Biogen from a hold rating to a buy rating in a research note on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a neutral rating to a buy rating and boosted their target price for the company from $228.00 to $338.00 in a research note on Wednesday, July 26th. Finally, Cowen and Company reissued a buy rating on shares of Biogen in a research report on Thursday, July 27th. Thirteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $330.66.

Biogen (BIIB) opened at 327.48 on Thursday. Biogen has a one year low of $244.28 and a one year high of $330.98. The firm’s 50-day moving average price is $311.50 and its 200 day moving average price is $281.29. The company has a market capitalization of $69.24 billion, a price-to-earnings ratio of 21.49 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.21 EPS. On average, equities research analysts expect that Biogen will post $21.53 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Biogen Inc. (BIIB) Earns “Hold” Rating from Royal Bank Of Canada” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another domain, it was illegally copied and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at https://ledgergazette.com/2017/10/08/biogen-inc-biib-earns-hold-rating-from-royal-bank-of-canada.html.

In other news, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were 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 in the company, valued at approximately $7,761,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the sale, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in BIIB. Waldron LP raised its position in shares of Biogen by 17.0% during the 1st quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock valued at $826,000 after buying an additional 439 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Biogen during the 1st quarter valued at about $1,449,000. Symphony Asset Management LLC raised its position in shares of Biogen by 3.8% during the 1st quarter. Symphony Asset Management LLC now owns 5,774 shares of the biotechnology company’s stock valued at $1,578,000 after buying an additional 212 shares in the last quarter. Commerce Bank raised its position in shares of Biogen by 2.5% during the 1st quarter. Commerce Bank now owns 28,504 shares of the biotechnology company’s stock valued at $7,794,000 after buying an additional 682 shares in the last quarter. Finally, Peddock Capital Advisors LLC raised its position in shares of Biogen by 26.1% during the 1st quarter. Peddock Capital Advisors LLC now owns 2,198 shares of the biotechnology company’s stock valued at $601,000 after buying an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 87.65% of the company’s stock.

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).

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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