Royal Bank Of Canada Cuts Biogen (NASDAQ:BIIB) Price Target to $210.00

Biogen (NASDAQ:BIIB) had its target price cut by Royal Bank Of Canada from $217.00 to $210.00 in a research note released on Friday, MarketBeat reports. They currently have an outperform rating on the biotechnology company’s stock.

Several other analysts have also recently commented on BIIB. Wall Street Zen upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 28th. HC Wainwright raised their price objective on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Jefferies Financial Group initiated coverage on Biogen in a report on Thursday, September 25th. They issued a “buy” rating and a $190.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Finally, Citigroup reissued a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Nine analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $177.00.

Biogen Trading Up 3.1%

Shares of BIIB stock opened at $154.27 on Friday. The company has a market capitalization of $22.62 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.17 and a beta of 0.13. 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 business’s 50 day moving average is $144.21 and its two-hundred day moving average is $133.77. Biogen has a twelve month low of $110.04 and a twelve month high of $179.48.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the company earned $4.08 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities analysts forecast that Biogen will post 15.83 EPS for the current year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Poinciana Advisors Group LLC purchased a new stake in shares of Biogen in the 3rd quarter worth about $218,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Biogen by 10.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 38,674 shares of the biotechnology company’s stock valued at $5,417,000 after purchasing an additional 3,746 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Biogen in the third quarter valued at about $27,399,000. Sector Gamma AS grew its position in shares of Biogen by 49.0% in the third quarter. Sector Gamma AS now owns 75,475 shares of the biotechnology company’s stock valued at $10,573,000 after purchasing an additional 24,836 shares during the last quarter. Finally, Blackhawk Capital Partners LLC increased its stake in shares of Biogen by 3.5% during the 3rd quarter. Blackhawk Capital Partners LLC now owns 3,325 shares of the biotechnology company’s stock worth $466,000 after purchasing an additional 113 shares in the last quarter. 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.