Royal Bank Of Canada restated their hold rating on shares of Biogen Inc. (NASDAQ:BIIB) in a report issued on Thursday. Royal Bank Of Canada currently has a $315.00 price objective on the biotechnology company’s stock.

Several other research firms also recently commented on BIIB. Vetr downgraded shares of Biogen from a strong-buy rating to a buy rating and set a $319.53 price objective on the stock. in a report on Tuesday, August 29th. ValuEngine raised shares of Biogen from a hold rating to a buy rating in a report on Thursday, June 22nd. Cowen and Company reaffirmed an outperform rating and set a $271.00 price objective on shares of Biogen in a report on Monday, July 3rd. William Blair reaffirmed an outperform rating on shares of Biogen in a report on Monday, June 26th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $310.00 price objective on shares of Biogen in a report on Tuesday, July 11th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $330.66.

Biogen (NASDAQ:BIIB) opened at 327.48 on Thursday. The company has a market capitalization of $69.24 billion, a price-to-earnings ratio of 21.49 and a beta of 0.77. Biogen has a 52-week low of $244.28 and a 52-week high of $330.98. The company’s 50-day moving average is $311.50 and its 200-day moving average is $281.29.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion for 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 period in the prior year, the firm earned $5.21 earnings per share. On average, analysts expect that Biogen will post $21.53 earnings per share for the current fiscal year.

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

Several hedge funds have recently bought and sold shares of BIIB. BlackRock Inc. increased its position in shares of Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after purchasing an additional 17,074,075 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Biogen by 4,585.3% in the second quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after purchasing an additional 1,414,707 shares during the last quarter. Janus Capital Management LLC increased its position in shares of Biogen by 204.8% in the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after purchasing an additional 1,301,251 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after purchasing an additional 1,295,540 shares during the last quarter. Finally, Winslow Capital Management LLC bought a new position in shares of Biogen in the first quarter worth approximately $345,143,000. Institutional investors own 87.65% of the company’s stock.

Biogen Company Profile

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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