Biogen (NASDAQ:BIIB) Earns “Hold” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their hold rating on shares of Biogen (NASDAQ:BIIB) in a research report released on Monday morning, Stock Target Advisor reports. The firm currently has a $267.00 price objective on the biotechnology company’s stock.

Several other equities analysts also recently weighed in on the company. UBS Group increased their target price on Biogen from $280.00 to $334.00 and gave the stock a positive rating in a research report on Tuesday, October 22nd. Oppenheimer set a $280.00 target price on Biogen and gave the stock a buy rating in a research report on Tuesday, October 15th. Mizuho reiterated a hold rating and set a $235.00 target price on shares of Biogen in a research report on Tuesday, October 22nd. William Blair reiterated a hold rating on shares of Biogen in a research report on Friday, October 25th. Finally, Bank of America increased their target price on Biogen from $200.00 to $235.00 and gave the stock an underperform rating in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $291.28.

Shares of NASDAQ:BIIB traded up $2.81 on Monday, hitting $285.43. The company had a trading volume of 1,997,596 shares, compared to its average volume of 1,917,005. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.35. Biogen has a 52-week low of $215.77 and a 52-week high of $344.00. The business has a 50 day moving average of $259.81 and a 200 day moving average of $238.67. The company has a market cap of $50.93 billion, a PE ratio of 10.89, a PEG ratio of 1.53 and a beta of 1.07.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.27 by $0.90. Biogen had a return on equity of 46.14% and a net margin of 37.91%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the business earned $7.40 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Biogen will post 33.14 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. MUFG Americas Holdings Corp increased its stake in Biogen by 3.1% during the third quarter. MUFG Americas Holdings Corp now owns 4,310 shares of the biotechnology company’s stock worth $1,003,000 after acquiring an additional 129 shares during the last quarter. Trillium Asset Management LLC increased its stake in Biogen by 33.1% during the third quarter. Trillium Asset Management LLC now owns 1,441 shares of the biotechnology company’s stock worth $336,000 after acquiring an additional 358 shares during the last quarter. Bogart Wealth LLC increased its stake in Biogen by 8.2% during the third quarter. Bogart Wealth LLC now owns 1,157 shares of the biotechnology company’s stock worth $269,000 after acquiring an additional 88 shares during the last quarter. Corient Capital Partners LLC increased its stake in Biogen by 169.5% during the third quarter. Corient Capital Partners LLC now owns 5,353 shares of the biotechnology company’s stock worth $1,246,000 after acquiring an additional 3,367 shares during the last quarter. Finally, Banco Santander S.A. increased its stake in Biogen by 10,997.3% during the third quarter. Banco Santander S.A. now owns 342,795 shares of the biotechnology company’s stock worth $79,809,000 after acquiring an additional 339,706 shares during the last quarter. Institutional investors own 87.73% of the company’s stock.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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