Biogen Inc. to Post FY2017 Earnings of $22.45 Per Share, Leerink Swann Forecasts (BIIB)

Biogen Inc. (NASDAQ:BIIB) – Equities research analysts at Leerink Swann boosted their FY2017 earnings per share (EPS) estimates for shares of Biogen in a note issued to investors on Monday. Leerink Swann analyst G. Porges now expects that the biotechnology company will earn $22.45 per share for the year, up from their previous forecast of $22.31. Leerink Swann has a “Market Perform” rating and a $338.00 price objective on the stock. Leerink Swann also issued estimates for Biogen’s Q4 2017 earnings at $6.07 EPS, FY2018 earnings at $24.46 EPS, FY2019 earnings at $25.84 EPS and FY2020 earnings at $26.77 EPS.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping the consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm earned $5.21 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year.

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Other analysts have also issued research reports about the company. Vetr lowered Biogen from a “buy” rating to a “hold” rating and set a $298.30 price objective on the stock. in a research note on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) raised Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a research note on Wednesday, August 16th. Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and increased their price objective for the company from $300.00 to $415.00 in a research note on Tuesday. Morgan Stanley reaffirmed a “buy” rating on shares of Biogen in a research note on Tuesday. Finally, Mizuho raised Biogen from a “neutral” rating to a “buy” rating and increased their price objective for the company from $319.00 to $400.00 in a research note on Tuesday. Eleven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $339.66.

Biogen (NASDAQ:BIIB) opened at 344.47 on Tuesday. Biogen has a 12-month low of $244.28 and a 12-month high of $348.65. The stock has a market cap of $72.83 billion, a price-to-earnings ratio of 22.60 and a beta of 0.77. The stock’s 50 day moving average price is $319.52 and its 200 day moving average price is $283.51.

A number of hedge funds have recently bought and sold shares of the business. Pathstone Family Office LLC acquired a new position in shares of Biogen in the 1st quarter worth approximately $102,000. Prentiss Smith & Co. Inc. grew its position in shares of Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after acquiring an additional 50 shares in the last quarter. Atlantic Trust LLC acquired a new position in shares of Biogen in the 2nd quarter worth approximately $114,000. Independent Portfolio Consultants Inc. grew its position in shares of Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 219 shares in the last quarter. Finally, Winfield Associates Inc. grew its position in shares of Biogen by 16.8% in the 1st quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the sale, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by insiders.

Biogen Company Profile

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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