Biogen (NASDAQ:BIIB) PT Set at $213.00 by Royal Bank Of Canada

Royal Bank Of Canada set a $213.00 price objective on Biogen (NASDAQ:BIIB) in a research report released on Wednesday morning, MarketBeat reports. The firm currently has an outperform rating on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Biogen from $219.00 to $197.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Wedbush reiterated a “neutral” rating and issued a $121.00 target price on shares of Biogen in a report on Thursday, June 12th. Truist Financial reduced their target price on Biogen from $210.00 to $199.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. reduced their price objective on Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Finally, Mizuho reduced their price objective on Biogen from $207.00 to $169.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $188.48.

Biogen Stock Down 0.7%

Shares of NASDAQ:BIIB opened at $126.08 on Wednesday. The stock’s 50-day moving average price is $125.68 and its two-hundred day moving average price is $135.32. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Biogen has a 12-month low of $110.04 and a 12-month high of $238.00. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.00 and a beta of 0.14.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.03% and a net margin of 15.07%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business posted $3.67 earnings per share. Biogen’s revenue was up 6.2% on a year-over-year basis. On average, research analysts forecast that Biogen will post 15.83 EPS for the current year.

Hedge Funds Weigh In On Biogen

A number of institutional investors have recently added to or reduced their stakes in the company. Amundi lifted its stake in shares of Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after acquiring an additional 319,478 shares in the last quarter. Integrated Quantitative Investments LLC acquired a new position in shares of Biogen in the 4th quarter valued at approximately $407,000. Daiwa Securities Group Inc. raised its position in shares of Biogen by 17.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 37,221 shares of the biotechnology company’s stock valued at $5,692,000 after purchasing an additional 5,627 shares in the last quarter. State of Michigan Retirement System raised its position in shares of Biogen by 59.9% in the 4th quarter. State of Michigan Retirement System now owns 63,503 shares of the biotechnology company’s stock valued at $9,711,000 after purchasing an additional 23,800 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Biogen by 346.1% in the 4th quarter. APG Asset Management N.V. now owns 105,446 shares of the biotechnology company’s stock valued at $15,572,000 after purchasing an additional 81,811 shares in the last quarter. Institutional investors and hedge funds 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.