Biogen (NASDAQ:BIIB) Price Target Lowered to $225.00 at Royal Bank of Canada

Biogen (NASDAQ:BIIB) had its target price trimmed by Royal Bank of Canada from $231.00 to $225.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the biotechnology company’s stock.

BIIB has been the topic of a number of other research reports. Barclays lowered their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a report on Thursday. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and cut their target price for the company from $250.00 to $180.00 in a report on Monday, December 9th. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $211.96.

Biogen Stock Performance

BIIB opened at $138.45 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen has a 12-month low of $128.51 and a 12-month high of $238.00. The firm has a 50 day moving average of $147.73 and a two-hundred day moving average of $174.05. The firm has a market capitalization of $20.17 billion, a PE ratio of 12.51, a P/E/G ratio of 1.65 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. On average, analysts anticipate that Biogen will post 16.42 EPS for the current year.

Institutional Trading of Biogen

Several large investors have recently bought and sold shares of the business. Lee Danner & Bass Inc. acquired a new position in shares of Biogen during the 4th quarter worth approximately $25,000. Larson Financial Group LLC lifted its position in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after buying an additional 141 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Biogen during the third quarter worth approximately $33,000. SRS Capital Advisors Inc. acquired a new position in Biogen during the fourth quarter worth $33,000. Finally, Venturi Wealth Management LLC grew its holdings in Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.