Royal Bank Of Canada Reaffirms “Hold” Rating for Biogen Inc. (BIIB)

Biogen Inc. (NASDAQ:BIIB)‘s stock had its “hold” rating reiterated by research analysts at Royal Bank Of Canada in a research note issued to investors on Thursday. They presently have a $315.00 target price on the biotechnology company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 0.03% from the company’s current price.

BIIB has been the subject of a number of other research reports. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 target price for the company in a research note on Tuesday, June 27th. Deutsche Bank AG initiated coverage on shares of Biogen in a research note on Friday, June 23rd. They set a “buy” rating and a $315.00 target price for the company. Robert W. Baird reiterated a “hold” rating and set a $290.00 target price on shares of Biogen in a research note on Friday, August 25th. Credit Suisse Group set a $300.00 target price on shares of Biogen and gave the stock a “hold” rating in a research note on Friday, July 14th. Finally, BMO Capital Markets boosted their target price on shares of Biogen from $328.00 to $377.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 13th. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Biogen has a consensus rating of “Buy” and a consensus target price of $330.66.

Biogen (NASDAQ:BIIB) traded up 4.19% during mid-day trading on Thursday, reaching $328.10. The company’s stock had a trading volume of 871,152 shares. Biogen has a 52 week low of $244.28 and a 52 week high of $330.98. The firm has a market capitalization of $69.37 billion, a price-to-earnings ratio of 21.53 and a beta of 0.77. The company’s 50-day moving average price is $309.33 and its 200 day moving average price is $280.58.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.21 earnings per share. On average, equities analysts forecast that Biogen will post $21.51 earnings per share for the current fiscal year.

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In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the transaction, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Botty Investors LLC boosted its holdings in shares of Biogen by 75.0% in the 2nd quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock valued at $3,048,000 after buying an additional 4,812 shares during the period. Savant Capital LLC boosted its holdings in shares of Biogen by 3.7% in the 1st quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 30 shares during the period. BB&T Securities LLC boosted its holdings in shares of Biogen by 25.0% in the 2nd quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock valued at $3,524,000 after buying an additional 2,598 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Biogen by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after buying an additional 342,568 shares during the period. Finally, Israel Discount Bank of New York acquired a new position in shares of Biogen in the 1st quarter valued at about $894,000. 87.65% of the stock is owned by institutional investors and hedge funds.

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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