Biogen Inc. (BIIB) Now Covered by Analysts at Royal Bank Of Canada
Equities researchers at Royal Bank Of Canada began coverage on shares of Biogen Inc. (NASDAQ:BIIB) in a research report issued on Thursday, The Fly reports. The firm set a “sector perform” rating on the biotechnology company’s stock.
Several other equities analysts have also recently issued reports on the company. ValuEngine raised Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 target price on the stock in a research note on Tuesday, June 27th. Credit Suisse Group set a $300.00 target price on Biogen and gave the company a “hold” rating in a research note on Friday, July 14th. Morgan Stanley reissued an “equal weight” rating and set a $307.00 target price on shares of Biogen in a research note on Wednesday, June 14th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $277.00 target price on shares of Biogen in a research note on Thursday, May 25th. Thirteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $333.87.
Shares of Biogen (NASDAQ:BIIB) traded down 0.13% during mid-day trading on Thursday, hitting $323.64. 1,136,440 shares of the stock traded hands. The firm’s 50-day moving average is $297.83 and its 200-day moving average is $278.11. The stock has a market cap of $68.43 billion, a price-to-earnings ratio of 21.24 and a beta of 0.77. Biogen has a 52 week low of $244.28 and a 52 week high of $330.00.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the company posted $5.21 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that Biogen will post $21.48 earnings per share for the current year.
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In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the firm’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 completion of the transaction, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Intl Fcstone Inc. bought a new stake in shares of Biogen in the 2nd quarter valued at approximately $1,218,000. Gs Investments Inc. bought a new stake in shares of Biogen in the 2nd quarter valued at approximately $136,000. Sentry Investment Management LLC lifted its stake in shares of Biogen by 1.2% in the 2nd quarter. Sentry Investment Management LLC now owns 27,364 shares of the biotechnology company’s stock valued at $7,425,000 after purchasing an additional 327 shares during the last quarter. Atlantic Trust LLC bought a new stake in shares of Biogen in the 2nd quarter valued at approximately $114,000. Finally, WFG Advisors LP lifted its stake in shares of Biogen by 137.9% in the 2nd quarter. WFG Advisors LP now owns 590 shares of the biotechnology company’s stock valued at $160,000 after purchasing an additional 342 shares during the last quarter. 87.26% of the stock is owned by institutional investors and hedge funds.
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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