Equities analysts expect Biogen (NASDAQ:BIIB) to report earnings per share of $5.95 for the current quarter, Zacks Investment Research reports. Thirty analysts have provided estimates for Biogen’s earnings, with the lowest EPS estimate coming in at $5.64 and the highest estimate coming in at $6.27. Biogen posted earnings per share of $5.20 during the same quarter last year, which would indicate a positive year over year growth rate of 14.4%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, April 24th.
According to Zacks, analysts expect that Biogen will report full-year earnings of $24.85 per share for the current year, with EPS estimates ranging from $23.47 to $27.89. For the next fiscal year, analysts anticipate that the firm will post earnings of $26.25 per share, with EPS estimates ranging from $22.73 to $32.09. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Biogen.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.44 by ($0.18). The business had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.08 billion. Biogen had a net margin of 20.69% and a return on equity of 38.32%. Biogen’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.04 EPS.
Several research firms have issued reports on BIIB. BMO Capital Markets restated a “buy” rating on shares of Biogen in a research note on Thursday, January 25th. JPMorgan Chase restated a “buy” rating on shares of Biogen in a research note on Thursday, February 8th. Canaccord Genuity upped their price objective on Biogen from $340.00 to $350.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. Oppenheimer upped their target price on Biogen from $380.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, Mizuho reaffirmed a “buy” rating and issued a $433.00 target price (up previously from $400.00) on shares of Biogen in a research report on Sunday, February 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $366.49.
NASDAQ:BIIB traded down $2.05 on Friday, hitting $265.39. The company’s stock had a trading volume of 1,197,053 shares, compared to its average volume of 1,710,548. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $56,580.33, a price-to-earnings ratio of 12.17, a P/E/G ratio of 1.47 and a beta of 0.86. Biogen has a one year low of $244.28 and a one year high of $370.57.
In related news, EVP Alfred Sandrock sold 743 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $292.00, for a total transaction of $216,956.00. Following the sale, the executive vice president now owns 6,553 shares of the company’s stock, valued at $1,913,476. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 2,296 shares of company stock worth $678,993 in the last three months. 0.25% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Alliancebernstein L.P. boosted its holdings in shares of Biogen by 27.0% in 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 in the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Biogen by 426.5% in 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 in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Biogen by 91.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 291,276 shares of the biotechnology company’s stock valued at $92,792,000 after purchasing an additional 139,529 shares in the last quarter. Smith Asset Management Group LP boosted its holdings in shares of Biogen by 164.8% in the 4th quarter. Smith Asset Management Group LP now owns 223,079 shares of the biotechnology company’s stock valued at $71,177,000 after purchasing an additional 138,832 shares in the last quarter. Finally, Argent Capital Management LLC acquired a new stake in shares of Biogen in the 3rd quarter valued at $41,167,000. 88.93% of the stock is currently owned by institutional investors and hedge funds.
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Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
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