Biogen (NASDAQ:BIIB) Stock Gets Price Target Cut from Royal Bank Of Canada

Biogen (NASDAQ:BIIB) had its price objective trimmed by Royal Bank Of Canada from $260.00 to $256.00 in a research report report published on Thursday morning, Marketbeat reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

A number of other equities research analysts have also weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $245.00 target price (up from $225.00) on shares of Biogen in a report on Thursday, September 3rd. Wolfe Research raised shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday, August 13th. HSBC lifted their price target on shares of Biogen from $165.00 to $175.00 and gave the stock a “reduce” rating in a report on Thursday, September 10th. Stifel Nicolaus set a $242.00 price objective on Biogen in a report on Thursday, September 10th. Finally, Citigroup raised their target price on Biogen from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.07.

Biogen Price Performance

Biogen stock opened at $225.71 on Thursday. The stock has a 50-day moving average price of $217.41 and a two-hundred day moving average price of $202.26. Biogen has a 12 month low of $138.00 and a 12 month high of $230.49. The company has a market capitalization of $33.35 billion, a PE ratio of 39.95, a P/E/G ratio of 2.49 and a beta of 0.09. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.66. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Analysts expect that Biogen will post 12.41 EPS for the current year.

Hedge Funds Weigh In On Biogen

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Biogen during the second quarter valued at $3,453,878,000. Primecap Management Co. CA acquired a new stake in Biogen during the 2nd quarter worth about $3,274,304,000. Legal & General Group Plc bought a new position in shares of Biogen in the 2nd quarter worth about $322,640,000. Bank of America Corp DE bought a new position in shares of Biogen in the 2nd quarter worth about $241,172,000. Finally, Deutsche Bank AG acquired a new position in shares of Biogen in the 2nd quarter valued at about $193,165,000. Institutional investors own 87.93% of the company’s stock.

Biogen Company Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer’s disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen’s products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich’s ataxia.