Biogen (NASDAQ:BIIB) Price Target Raised to $225.00

Biogen (NASDAQ:BIIB) had its price target boosted by Royal Bank of Canada from $221.00 to $225.00 in a report issued on Tuesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the biotechnology company’s stock.

A number of other research analysts have also recently weighed in on BIIB. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a report on Wednesday, April 16th. Argus downgraded shares of Biogen from a “buy” rating to a “hold” rating in a report on Friday, April 4th. The Goldman Sachs Group decreased their price target on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. HC Wainwright dropped their price target on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Truist Financial reduced their target price on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Eighteen 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 presently has an average rating of “Hold” and an average target price of $211.37.

Biogen Price Performance

NASDAQ:BIIB opened at $119.51 on Tuesday. The firm’s fifty day moving average is $132.82 and its two-hundred day moving average is $149.83. The firm has a market cap of $17.49 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.51 and a beta of 0.06. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen has a one year low of $110.04 and a one year high of $238.00.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Research analysts expect that Biogen will post 15.83 EPS for the current year.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Biogen

Several large investors have recently bought and sold shares of BIIB. Larson Financial Group LLC lifted its stake in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 141 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Biogen in the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Biogen during the 1st quarter worth approximately $26,000. Colonial Trust Co SC grew its position in shares of Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 186 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Biogen in the fourth quarter valued at $32,000. 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.