Royal Bank Of Canada Cuts Biogen (NASDAQ:BIIB) Price Target to $217.00

Biogen (NASDAQ:BIIB) had its target price decreased by Royal Bank Of Canada from $219.00 to $217.00 in a research note released on Wednesday morning,MarketScreener reports. Royal Bank Of Canada currently has an outperform rating on the biotechnology company’s stock.

A number of other equities analysts also recently commented on BIIB. HC Wainwright lifted their price objective on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Truist Financial began coverage on Biogen in a report on Monday, July 21st. They set a “hold” rating and a $142.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research note on Wednesday, September 24th. Jefferies Financial Group began coverage on shares of Biogen in a research note on Thursday, September 25th. They set a “buy” rating and a $190.00 target price on the stock. Finally, Piper Sandler lifted their price target on shares of Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, September 12th. Eleven analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $180.15.

Biogen Stock Performance

NASDAQ:BIIB opened at $146.57 on Wednesday. The company’s 50-day moving average price is $140.21 and its 200-day moving average price is $131.23. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The company has a market cap of $21.49 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.18 and a beta of 0.13. Biogen has a twelve month low of $110.04 and a twelve month high of $194.13.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the company posted $5.28 EPS. The business’s revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, sell-side analysts forecast that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the sale, the insider directly owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Biogen

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC purchased a new stake in shares of Biogen in the 2nd quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new stake in Biogen during the first quarter worth about $26,000. Vision Financial Markets LLC purchased a new stake in Biogen during the first quarter worth about $27,000. Greykasell Wealth Strategies Inc. purchased a new stake in Biogen during the first quarter worth about $27,000. Finally, Rothschild Investment LLC increased its stake in Biogen by 64.7% during the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 88 shares during the period. 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.