Royal Bank Of Canada reissued their hold rating on shares of Biogen (NASDAQ:BIIB) in a research report report published on Tuesday. They currently have a $321.00 price objective on the biotechnology company’s stock.
BIIB has been the topic of several other research reports. Citigroup lowered shares of Biogen from a buy rating to a neutral rating in a report on Monday, October 23rd. Mizuho set a $400.00 price objective on shares of Biogen and gave the company a buy rating in a report on Monday, November 13th. Vetr lowered 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 Wednesday, August 23rd. Stifel Nicolaus reiterated a hold rating and set a $300.00 price objective on shares of Biogen in a report on Thursday, October 12th. Finally, Robert W. Baird reiterated a hold rating and set a $290.00 price objective on shares of Biogen in a report on Friday, August 25th. Twelve research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $344.60.
Biogen (BIIB) traded up $2.47 during mid-day trading on Tuesday, reaching $319.87. 915,500 shares of the company traded hands, compared to its average volume of 1,486,591. Biogen has a 1-year low of $244.28 and a 1-year high of $348.84. The firm has a market capitalization of $67,122.77, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.98 and a beta of 0.73. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46.
In related news, Director Alexander J. Denner bought 30,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were purchased at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the purchase, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Institutional & Family Asset Management LLC boosted its stake in Biogen by 19.9% in the third quarter. Institutional & Family Asset Management LLC now owns 2,310 shares of the biotechnology company’s stock valued at $723,000 after acquiring an additional 384 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Biogen during the 3rd quarter valued at approximately $792,000. Visionary Asset Management Inc. purchased a new stake in shares of Biogen during the 3rd quarter valued at approximately $219,000. Public Employees Retirement System of Ohio lifted its stake in shares of Biogen by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 147,021 shares of the biotechnology company’s stock valued at $46,035,000 after buying an additional 520 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Biogen by 68.5% during the 3rd quarter. GSA Capital Partners LLP now owns 2,288 shares of the biotechnology company’s stock valued at $716,000 after buying an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.
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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).
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