Biogen (NASDAQ:BIIB) Given New $225.00 Price Target at Royal Bank of Canada

Biogen (NASDAQ:BIIB) had its target price decreased by stock analysts at Royal Bank of Canada from $231.00 to $225.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 65.98% from the company’s current price.

Several other equities analysts have also commented on the company. Mizuho dropped their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Citigroup decreased their price objective on shares of Biogen from $190.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Finally, HC Wainwright cut their target price on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research note on Thursday. Seventeen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $214.23.

Biogen Price Performance

BIIB stock traded up $2.13 on Thursday, reaching $135.56. The company had a trading volume of 754,804 shares, compared to its average volume of 1,350,006. The company’s fifty day moving average is $147.73 and its 200 day moving average is $174.05. The company has a market cap of $19.75 billion, a P/E ratio of 12.25, a PEG ratio of 1.65 and a beta of -0.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen has a 1 year low of $128.51 and a 1 year high of $238.00.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Greenland Capital Management LP acquired a new stake in shares of Biogen in the fourth quarter worth $265,000. Bank of Nova Scotia grew its holdings in Biogen by 10.3% in the 4th quarter. Bank of Nova Scotia now owns 20,552 shares of the biotechnology company’s stock valued at $3,143,000 after buying an additional 1,915 shares during the last quarter. Renaissance Technologies LLC grew its position in Biogen by 25.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,192,206 shares of the biotechnology company’s stock worth $182,312,000 after buying an additional 239,500 shares in the last quarter. Invesco Ltd. raised its stake in shares of Biogen by 30.6% in the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock valued at $325,537,000 after purchasing an additional 499,074 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Biogen by 183.8% during the 4th quarter. Cerity Partners LLC now owns 22,091 shares of the biotechnology company’s stock valued at $3,520,000 after acquiring an additional 14,306 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

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.