Biogen Inc. (NASDAQ:BIIB) – Stock analysts at Cantor Fitzgerald upped their FY2017 earnings per share (EPS) estimates for Biogen in a research note issued on Wednesday, according to Zacks Investment Research. Cantor Fitzgerald analyst W. Tanner now anticipates that the biotechnology company will post earnings per share of $21.86 for the year, up from their prior forecast of $21.34. Cantor Fitzgerald currently has a “Hold” rating and a $279.00 price target on the stock. Cantor Fitzgerald also issued estimates for Biogen’s FY2018 earnings at $23.78 EPS.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the company earned $5.19 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year.
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Several other analysts have also recently issued reports on BIIB. BMO Capital Markets reissued a “hold” rating and set a $318.00 price objective on shares of Biogen in a research note on Tuesday, July 18th. Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $228.00 to $338.00 in a research note on Wednesday, July 26th. Leerink Swann reissued a “market perform” rating and set a $338.00 price objective (up from $304.00) on shares of Biogen in a research note on Wednesday, July 26th. Deutsche Bank AG reissued a “buy” rating and set a $319.00 price objective (up from $315.00) on shares of Biogen in a research note on Wednesday, July 26th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $311.00 price objective (up from $301.00) on shares of Biogen in a research note on Wednesday, July 26th. Twelve research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Biogen has a consensus rating of “Buy” and an average target price of $341.89.
Shares of Biogen (BIIB) opened at $310.44 on Thursday. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84. The stock has a market cap of $65,650.92, a price-to-earnings ratio of 14.38, a PEG ratio of 1.94 and a beta of 0.72. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Pathstone Family Office LLC bought a new position in Biogen in the 1st quarter worth about $102,000. Prentiss Smith & Co. Inc. grew its position in 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 purchasing an additional 50 shares during the last quarter. Horan Capital Advisors LLC. bought a new position in Biogen in the 3rd quarter worth about $128,000. Atlantic Trust LLC bought a new position in Biogen in the 2nd quarter worth about $114,000. Finally, Massey Quick Simon & CO. LLC grew its position in Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.
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).
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