Biogen Inc. (NASDAQ:BIIB) had its price objective reduced by investment analysts at Royal Bank Of Canada from $315.00 to $313.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “sector perform” rating on the biotechnology company’s stock. Royal Bank Of Canada’s target price would suggest a potential downside of 0.86% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Vetr downgraded Biogen from a “buy” rating to a “hold” rating and set a $298.30 price objective on the stock. in a report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a report on Wednesday, August 16th. Cantor Fitzgerald restated a “hold” rating and set a $279.00 price objective on shares of Biogen in a report on Tuesday. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $354.00 price target on shares of Biogen in a report on Tuesday. Finally, BMO Capital Markets upgraded Biogen from a “market perform” rating to an “outperform” rating in a report on Wednesday. Eleven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $342.07.

Shares of Biogen (BIIB) opened at 315.73 on Wednesday. The company has a market capitalization of $66.76 billion, a price-to-earnings ratio of 20.72 and a beta of 0.77. The company’s 50 day moving average price is $324.61 and its 200 day moving average price is $286.77. Biogen has a 52-week low of $244.28 and a 52-week high of $348.84.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.61 by $0.70. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. Biogen’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $5.19 EPS. On average, analysts predict that Biogen will post $21.65 EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TrueNorth Inc. raised its stake in shares of Biogen by 13.3% during the 3rd quarter. TrueNorth Inc. now owns 4,543 shares of the biotechnology company’s stock valued at $1,423,000 after buying an additional 534 shares during the last quarter. Saratoga Research & Investment Management raised its stake in shares of Biogen by 2.9% during the 3rd quarter. Saratoga Research & Investment Management now owns 141,509 shares of the biotechnology company’s stock valued at $44,309,000 after buying an additional 3,947 shares during the last quarter. Intermede Investment Partners Ltd raised its stake in shares of Biogen by 21.7% during the 3rd quarter. Intermede Investment Partners Ltd now owns 130,507 shares of the biotechnology company’s stock valued at $40,864,000 after buying an additional 23,287 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Biogen by 51.2% during the 3rd quarter. First Trust Advisors LP now owns 222,160 shares of the biotechnology company’s stock valued at $69,563,000 after buying an additional 75,195 shares during the last quarter. Finally, Boston Advisors LLC raised its stake in shares of Biogen by 17.5% during the 3rd quarter. Boston Advisors LLC now owns 2,871 shares of the biotechnology company’s stock valued at $899,000 after buying an additional 427 shares during the last quarter. Institutional investors and hedge funds own 87.47% 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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