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

Biogen (NASDAQ:BIIB) had its price target dropped by equities researchers at Royal Bank of Canada from $231.00 to $225.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 63.84% from the company’s current price.

A number of other research firms also recently commented on BIIB. Mizuho cut their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Wolfe Research started coverage on Biogen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and lowered their target price for the company from $250.00 to $180.00 in a report on Monday, December 9th. Canaccord Genuity Group reduced their price target on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Barclays cut their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $211.96.

Biogen Trading Down 0.8 %

Biogen stock opened at $137.33 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen has a one year low of $128.51 and a one year high of $238.00. The stock has a market capitalization of $20.01 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The business’s fifty day moving average is $147.31 and its 200 day moving average is $173.80.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating 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, sell-side analysts predict that Biogen will post 16.42 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Biogen in the fourth quarter valued at $25,000. OFI Invest Asset Management purchased a new stake in Biogen during the fourth quarter valued at $32,000. Ashton Thomas Securities LLC purchased a new stake in Biogen during the third quarter valued at $33,000. Finally, SRS Capital Advisors Inc. purchased a new position in shares of Biogen in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

About Biogen

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.