Biogen (NASDAQ:BIIB)‘s stock had its “hold” rating restated by research analysts at Royal Bank Of Canada in a note issued to investors on Tuesday. They presently have a $321.00 price objective on the biotechnology company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 2.33% from the stock’s previous close.

BIIB has been the topic of a number of other research reports. Citigroup lowered Biogen from a “buy” rating to a “neutral” rating in a research report on Monday, October 23rd. Mizuho set a $400.00 price objective on Biogen and gave the stock a “buy” rating in a research report on Monday, November 13th. Vetr lowered Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price objective on the stock. in a research report on Wednesday, August 23rd. Stifel Nicolaus restated a “hold” rating and set a $300.00 price objective on shares of Biogen in a research report on Thursday, October 12th. Finally, 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. Twelve research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and an average target price of $344.60.

Shares of Biogen (NASDAQ:BIIB) traded down $6.17 during mid-day trading on Tuesday, reaching $313.70. The company had a trading volume of 367,616 shares, compared to its average volume of 1,486,591. The company has a market cap of $67,122.77, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.98 and a beta of 0.73. Biogen has a twelve month low of $244.28 and a twelve month high of $348.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.61. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. Biogen’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.19 EPS. sell-side analysts anticipate that Biogen will post 22.03 earnings per share for the current fiscal year.

In related news, Director Alexander J. Denner purchased 30,000 shares of Biogen stock in a transaction on Wednesday, November 29th. The shares were purchased at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the transaction, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Several institutional investors have recently made changes to their positions in BIIB. Laurel Wealth Advisors Inc. boosted its position in shares of Biogen by 15.6% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 1,080 shares of the biotechnology company’s stock valued at $295,000 after purchasing an additional 146 shares in the last quarter. TrueNorth Inc. bought a new stake in shares of Biogen during the 1st quarter valued at about $1,209,000. Clearbridge Investments LLC boosted its position in shares of Biogen by 4.0% during the 1st quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock valued at $2,493,871,000 after purchasing an additional 351,224 shares in the last quarter. Parsons Capital Management Inc. RI boosted its position in shares of Biogen by 68.5% during the 1st quarter. Parsons Capital Management Inc. RI now owns 1,463 shares of the biotechnology company’s stock valued at $400,000 after purchasing an additional 595 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its position in shares of 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 purchasing an additional 219 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

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About Biogen

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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