Biogen Inc (NASDAQ:BIIB) – Investment analysts at Piper Jaffray lifted their Q1 2018 earnings per share estimates for shares of Biogen in a research report issued on Thursday, April 5th. Piper Jaffray analyst C. Raymond now forecasts that the biotechnology company will post earnings per share of $5.85 for the quarter, up from their previous forecast of $5.73. Piper Jaffray currently has a “Buy” rating on the stock. Piper Jaffray also issued estimates for Biogen’s Q2 2018 earnings at $6.39 EPS, Q3 2018 earnings at $6.37 EPS, Q4 2018 earnings at $6.04 EPS, Q1 2019 earnings at $6.18 EPS, Q2 2019 earnings at $6.76 EPS, Q3 2019 earnings at $6.70 EPS, Q4 2019 earnings at $6.35 EPS, FY2021 earnings at $28.77 EPS and FY2022 earnings at $31.45 EPS.
A number of other research firms have also recently commented on BIIB. Deutsche Bank reaffirmed a “buy” rating and issued a $373.00 price target on shares of Biogen in a report on Friday, January 26th. Oppenheimer lifted their price target on shares of Biogen from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Jefferies Group reaffirmed a “hold” rating on shares of Biogen in a report on Friday, January 26th. BMO Capital Markets reaffirmed a “buy” rating on shares of Biogen in a report on Thursday, January 25th. Finally, Cowen reaffirmed a “buy” rating and issued a $408.00 price target on shares of Biogen in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Biogen presently has a consensus rating of “Buy” and an average price target of $366.49.
NASDAQ:BIIB opened at $257.65 on Monday. 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 company has a market capitalization of $54,509.21, a P/E ratio of 11.81, a P/E/G ratio of 1.42 and a beta of 0.86. Biogen has a 12 month low of $244.28 and a 12 month high of $370.57.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.18). The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $5.04 EPS.
In other news, EVP Alfred Sandrock sold 259 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $290.83, for a total transaction of $75,324.97. Following the completion of the transaction, the executive vice president now directly owns 6,553 shares in the company, valued at approximately $1,905,808.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the transaction, the director now owns 23,539 shares of the company’s stock, valued at $7,759,631.35. The disclosure for this sale can be found here. Insiders have sold a total of 8,128 shares of company stock valued at $2,601,512 over the last 90 days. Company insiders own 0.25% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Buckingham Capital Management Inc. grew its position in shares of Biogen by 13.2% during the 3rd quarter. Buckingham Capital Management Inc. now owns 2,723 shares of the biotechnology company’s stock valued at $853,000 after purchasing an additional 318 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Biogen by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 527,331 shares of the biotechnology company’s stock valued at $165,106,000 after purchasing an additional 8,704 shares in the last quarter. Cohen & Steers Inc. purchased a new position in shares of Biogen during the 3rd quarter valued at $12,116,000. Vident Investment Advisory LLC purchased a new position in shares of Biogen during the 3rd quarter valued at $308,000. Finally, Zions Bancorporation grew its position in Biogen by 2,647.8% in the third quarter. Zions Bancorporation now owns 1,264 shares of the biotechnology company’s stock worth $396,000 after acquiring an additional 1,218 shares in the last quarter. Hedge funds and other institutional investors own 88.93% 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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