Biogen Inc. (BIIB) Receives “Hold” Rating from Royal Bank Of Canada
Biogen Inc. (NASDAQ:BIIB)‘s stock had its “hold” rating reiterated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday. They presently have a $315.00 price target on the biotechnology company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 0.03% from the stock’s current price.
BIIB has been the subject of a number of other reports. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 target price for the company in a research report on Tuesday, June 27th. Deutsche Bank AG initiated coverage on Biogen in a research report on Friday, June 23rd. They set a “buy” rating and a $315.00 price objective for the company. Robert W. Baird restated a “hold” rating and set a $290.00 price objective on shares of Biogen in a research report on Friday, August 25th. Credit Suisse Group set a $300.00 price objective on Biogen and gave the stock a “hold” rating in a research report on Friday, July 14th. Finally, BMO Capital Markets upped their price objective on Biogen from $328.00 to $377.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 13th. Thirteen analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $330.66.
Shares of Biogen (NASDAQ:BIIB) traded up 4.21% during mid-day trading on Thursday, hitting $328.18. The stock had a trading volume of 940,569 shares. The stock’s 50-day moving average price is $309.33 and its 200 day moving average price is $280.58. Biogen has a 1-year low of $244.28 and a 1-year high of $330.98. The company has a market capitalization of $69.39 billion, a P/E ratio of 21.54 and a beta of 0.77.
Biogen (NASDAQ:BIIB) last released 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 firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $5.21 EPS. On average, analysts predict that Biogen will post $21.51 EPS for the current fiscal year.
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In related 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 sale, the executive vice president now owns 27,232 shares of the company’s stock, valued at $7,761,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’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 of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Biogen by 2.3% during the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after purchasing an additional 415,099 shares during the period. Vanguard Group Inc. grew its stake in Biogen by 1.3% during the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after purchasing an additional 182,337 shares during the period. State Street Corp grew its stake in Biogen by 1.5% during the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after purchasing an additional 140,929 shares during the period. Clearbridge Investments LLC grew its stake in Biogen by 4.0% during the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock worth $2,493,871,000 after purchasing an additional 351,224 shares during the period. Finally, FMR LLC grew its stake in Biogen by 10.1% during the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after purchasing an additional 561,436 shares during the period. 87.65% of the stock is 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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