Analysts predict that Biogen Inc (NASDAQ:BIIB) will post sales of $3.14 billion for the current fiscal quarter, Zacks reports. Twenty Eight analysts have provided estimates for Biogen’s earnings. The highest sales estimate is $3.33 billion and the lowest is $2.99 billion. Biogen reported sales of $2.81 billion in the same quarter last year, which would suggest a positive year over year growth rate of 11.7%. The firm is expected to issue its next earnings report on Tuesday, April 24th.
On average, analysts expect that Biogen will report full-year sales of $3.14 billion for the current financial year, with estimates ranging from $12.76 billion to $13.94 billion. For the next year, analysts expect that the firm will report sales of $13.26 billion per share, with estimates ranging from $9.54 billion to $14.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Biogen.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing the Zacks’ consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the company earned $5.04 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year.
A number of research firms have recently commented on BIIB. SunTrust Banks reiterated a “buy” rating and set a $354.00 price target on shares of Biogen in a report on Tuesday, October 24th. BMO Capital Markets reiterated a “buy” rating on shares of Biogen in a report on Thursday, January 25th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Biogen in a report on Thursday, February 8th. Argus cut shares of Biogen from a “buy” rating to a “hold” rating in a report on Friday, February 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $340.00 price target on shares of Biogen in a report on Wednesday, October 25th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $368.99.
Biogen (NASDAQ BIIB) traded down $1.35 during trading hours on Friday, hitting $286.10. 1,703,922 shares of the stock were exchanged, compared to its average volume of 1,570,732. Biogen has a 1 year low of $244.28 and a 1 year high of $370.57. The company has a current ratio of 2.34, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $61,170.00, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.52 and a beta of 0.75.
In other Biogen news, CEO Michel Vounatsos purchased 780 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were acquired at an average cost of $320.55 per share, for a total transaction of $250,029.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alfred Sandrock sold 1,294 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $298.85, for a total transaction of $386,711.90. Following the completion of the transaction, the executive vice president now owns 7,296 shares in the company, valued at $2,180,409.60. The disclosure for this sale can be found here. Insiders acquired 31,560 shares of company stock worth $10,020,858 over the last quarter. Insiders own 0.25% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Alliancebernstein L.P. raised its position in shares of Biogen by 27.0% during the 4th quarter. Alliancebernstein L.P. now owns 3,414,672 shares of the biotechnology company’s stock valued at $1,087,812,000 after purchasing an additional 727,007 shares during the period. Ameriprise Financial Inc. raised 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 valued at $723,142,000 after purchasing an additional 600,384 shares during the period. Bank of New York Mellon Corp raised its position in shares of Biogen by 24.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock valued at $728,314,000 after purchasing an additional 450,207 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Biogen during the 3rd quarter valued at $123,494,000. Finally, Amundi Pioneer Asset Management Inc. raised its position in shares of Biogen by 426.5% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 245,830 shares of the biotechnology company’s stock valued at $78,314,000 after purchasing an additional 199,140 shares during the period. Institutional investors and hedge funds own 89.20% 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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