Biogen Inc (NASDAQ:BIIB) – Analysts at Leerink Swann increased their Q1 2018 earnings per share estimates for shares of Biogen in a report released on Friday, Zacks Investment Research reports. Leerink Swann analyst G. Porges now anticipates that the biotechnology company will earn $5.81 per share for the quarter, up from their previous estimate of $5.74. Leerink Swann also issued estimates for Biogen’s Q3 2018 earnings at $6.39 EPS, Q4 2018 earnings at $6.49 EPS, FY2018 earnings at $25.10 EPS, FY2019 earnings at $26.11 EPS, FY2020 earnings at $27.17 EPS, FY2021 earnings at $26.81 EPS and FY2022 earnings at $26.66 EPS.
Several other research firms have also weighed in on BIIB. Deutsche Bank reissued a “buy” rating and issued a $373.00 price objective on shares of Biogen in a research report on Friday, January 26th. Oppenheimer lifted their price objective on Biogen from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Jefferies Group restated a “hold” rating on shares of Biogen in a research note on Friday, January 26th. BMO Capital Markets restated a “buy” rating on shares of Biogen in a research note on Thursday, January 25th. Finally, Cowen restated a “buy” rating and issued a $408.00 target price on shares of Biogen in a research note on Friday, January 26th. Eight analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $368.99.
Biogen (BIIB) opened at $316.63 on Monday. Biogen has a 12-month low of $244.28 and a 12-month high of $370.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.34 and a quick ratio of 2.07. The firm has a market capitalization of $66,960.00, a PE ratio of 26.59, a PEG ratio of 1.65 and a beta of 0.75.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). Biogen had a return on equity of 38.32% and a net margin of 20.69%. The business had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $5.04 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of the business. State Street Corp lifted its position in shares of Biogen by 1.5% during the 2nd quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after buying an additional 140,929 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Biogen by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,390,527 shares of the biotechnology company’s stock worth $761,552,000 after buying an additional 64,540 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Biogen by 35.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after buying an additional 600,384 shares in the last quarter. Jackson Square Partners LLC lifted its position in shares of Biogen by 9.3% during the 3rd quarter. Jackson Square Partners LLC now owns 2,249,253 shares of the biotechnology company’s stock worth $704,286,000 after buying an additional 191,526 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Biogen by 4,585.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after purchasing an additional 1,414,707 shares during the period. 87.79% of the stock is currently owned by hedge funds and other institutional investors.
In other Biogen news, Director Robert W. Pangia sold 5,832 shares of Biogen stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the completion of the transaction, the director now owns 23,539 shares in the company, valued at approximately $7,759,631.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michel Vounatsos bought 780 shares of the company’s stock in a transaction on Friday, December 29th. The shares were purchased at an average cost of $320.55 per share, for a total transaction of $250,029.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 31,560 shares of company stock valued at $10,020,858 in the last quarter. Company insiders own 0.25% of the company’s stock.
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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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