Biogen Inc. Forecasted to Post FY2020 Earnings of $26.63 Per Share (BIIB)

Biogen Inc. (NASDAQ:BIIB) – Stock analysts at Leerink Swann decreased their FY2020 earnings per share (EPS) estimates for shares of Biogen in a note issued to investors on Monday. Leerink Swann analyst G. Porges now forecasts that the biotechnology company will post earnings per share of $26.63 for the year, down from their prior forecast of $26.77. Leerink Swann has a “Market Perform” rating and a $338.00 price objective on the stock.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the company earned $5.19 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year.

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BIIB has been the subject of a number of other reports. Citigroup Inc downgraded shares of Biogen from a “buy” rating to a “neutral” rating in a research note on Monday. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price on the stock. in a report on Wednesday, August 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday, October 12th. Robert W. Baird reaffirmed a “hold” rating and issued a $290.00 target price on shares of Biogen in a report on Friday, August 25th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Biogen in a report on Tuesday, October 17th. Eleven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $341.30.

Biogen (NASDAQ:BIIB) traded down 2.22% during trading on Wednesday, reaching $307.64. The company’s stock had a trading volume of 1,900,053 shares. The company has a market cap of $65.04 billion, a P/E ratio of 20.19 and a beta of 0.77. Biogen has a 52 week low of $244.28 and a 52 week high of $348.84. The company’s 50 day moving average price is $324.58 and its 200 day moving average price is $286.98.

Large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new position in shares of Biogen during the third quarter worth $123,494,000. Botty Investors LLC lifted its holdings in shares of Biogen by 75.0% during the second quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock worth $3,048,000 after purchasing an additional 4,812 shares during the period. BB&T Securities LLC lifted its holdings in shares of Biogen by 25.0% during the second quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock worth $3,524,000 after purchasing an additional 2,598 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Biogen by 2.4% during the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after purchasing an additional 342,568 shares during the period. Finally, Israel Discount Bank of New York bought a new position in Biogen during the first quarter worth $894,000. Institutional investors own 87.47% of the company’s stock.

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).

Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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