Biogen (NASDAQ:BIIB) Price Target Cut to $225.00 by Analysts at Royal Bank of Canada

Biogen (NASDAQ:BIIB) had its price objective cut by Royal Bank of Canada from $231.00 to $225.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

BIIB has been the topic of several other research reports. Piper Sandler downgraded Biogen from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $315.00 to $138.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. cut their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Truist Financial decreased their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a research note on Monday, December 16th. Finally, Bank Of America (Bofa) reduced their target price on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $211.96.

Biogen Price Performance

BIIB stock opened at $138.45 on Thursday. The stock has a market cap of $20.17 billion, a PE ratio of 12.51, a P/E/G ratio of 1.65 and a beta of -0.08. Biogen has a 12 month low of $128.51 and a 12 month high of $238.00. The company has a 50-day moving average price of $147.73 and a 200 day moving average price of $174.05. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

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

Institutional Investors Weigh In On Biogen

Large investors have recently modified their holdings of the business. Larson Financial Group LLC increased its holdings in shares of Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in Biogen during the 4th quarter worth approximately $25,000. OFI Invest Asset Management acquired a new position in Biogen during the 4th quarter valued at approximately $32,000. Ashton Thomas Securities LLC purchased a new position in shares of Biogen in the third quarter worth $33,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of Biogen during the fourth quarter worth $33,000. 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.