Biogen Inc. (BIIB) Research Coverage Started at Royal Bank Of Canada

Royal Bank Of Canada began coverage on shares of Biogen Inc. (NASDAQ:BIIB) in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a sector perform rating and a $319.00 price objective on the biotechnology company’s stock.

A number of other brokerages have also issued reports on BIIB. Vetr lowered Biogen from a strong-buy rating to a buy rating and set a $319.53 target price on the stock. in a research report on Tuesday, August 29th. ValuEngine raised Biogen from a hold rating to a buy rating in a research report on Thursday, June 22nd. Mizuho dropped their price target on Biogen from $290.00 to $274.00 and set a neutral rating on the stock in a research report on Wednesday, May 31st. Cowen and Company reissued an outperform rating and set a $271.00 price target on shares of Biogen in a research report on Monday, July 3rd. Finally, William Blair reissued an outperform rating on shares of Biogen in a research report on Monday, June 26th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Biogen has a consensus rating of Buy and an average price target of $331.53.

Shares of Biogen (NASDAQ BIIB) opened at 321.26 on Thursday. The company’s 50 day moving average price is $298.79 and its 200-day moving average price is $278.33. Biogen has a 1-year low of $244.28 and a 1-year high of $330.00. The firm has a market cap of $67.92 billion, a price-to-earnings ratio of 21.08 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. Biogen’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.21 earnings per share. Equities analysts expect that Biogen will post $21.48 EPS for the current fiscal year.

WARNING: “Biogen Inc. (BIIB) Research Coverage Started at Royal Bank Of Canada” was posted by BBNS and is the property of of BBNS. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://baseballnewssource.com/markets/biogen-inc-biib-research-coverage-started-at-royal-bank-of-canada/1645650.html.

In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Intl Fcstone Inc. acquired a new position in Biogen in the 2nd quarter valued at approximately $1,218,000. Gs Investments Inc. acquired a new position in Biogen in the 2nd quarter valued at approximately $136,000. Sentry Investment Management LLC raised its holdings in Biogen by 1.2% in the 2nd quarter. Sentry Investment Management LLC now owns 27,364 shares of the biotechnology company’s stock valued at $7,425,000 after acquiring an additional 327 shares in the last quarter. Atlantic Trust LLC acquired a new position in Biogen in the 2nd quarter valued at approximately $114,000. Finally, WFG Advisors LP raised its holdings in Biogen by 137.9% in the 2nd quarter. WFG Advisors LP now owns 590 shares of the biotechnology company’s stock valued at $160,000 after acquiring an additional 342 shares in the last quarter. 87.65% of the stock is owned by hedge funds and other institutional investors.

About Biogen

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)

Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22
Tigers Player Might Play All Nine Positions During Same Game
Tigers Player Might Play All Nine Positions During Same Game
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Dodgers End Losing Streak at 11 Behind Ace Clayton Kershaw
Dodgers End Losing Streak at 11 Behind Ace Clayton Kershaw
Cleveland Indians Winning Streak Reaches 18
Cleveland Indians Winning Streak Reaches 18
Washington Nationals Call Up Prospect to Help Outfield
Washington Nationals Call Up Prospect to Help Outfield


Leave a Reply

 
© 2006-2017 BBNS.