Biogen Inc (NASDAQ:BIIB) – Investment analysts at William Blair cut their FY2019 earnings per share estimates for Biogen in a research note issued on Monday, October 15th. William Blair analyst M. Phipps now expects that the biotechnology company will earn $27.13 per share for the year, down from their prior estimate of $27.28. William Blair also issued estimates for Biogen’s FY2020 earnings at $28.52 EPS.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.22 by $0.58. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.25 billion. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.04 EPS.
Other equities analysts also recently issued reports about the stock. Mizuho set a $423.00 price objective on shares of Biogen and gave the stock a “buy” rating in a report on Friday, June 29th. BidaskClub downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 29th. UBS Group lifted their price objective on shares of Biogen from $354.00 to $395.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Citigroup lifted their price objective on shares of Biogen to $483.00 and gave the stock a “positive” rating in a report on Thursday, July 26th. Finally, Raymond James reaffirmed a “buy” rating on shares of Biogen in a report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $381.97.
BIIB opened at $330.15 on Thursday. The company has a current ratio of 2.36, a quick ratio of 2.06 and a debt-to-equity ratio of 0.48. The firm has a market cap of $71.17 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.36 and a beta of 0.86. Biogen has a 1 year low of $249.17 and a 1 year high of $388.67.
A number of institutional investors have recently made changes to their positions in the stock. Northern Trust Corp raised its stake in Biogen by 0.7% in the 2nd quarter. Northern Trust Corp now owns 2,892,559 shares of the biotechnology company’s stock valued at $839,536,000 after acquiring an additional 19,730 shares during the period. Bank of New York Mellon Corp raised its stake in Biogen by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,362,136 shares of the biotechnology company’s stock valued at $685,588,000 after acquiring an additional 72,668 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Biogen by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,095,005 shares of the biotechnology company’s stock valued at $608,054,000 after acquiring an additional 18,790 shares during the period. Morgan Stanley raised its stake in Biogen by 61.1% in the 2nd quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock valued at $508,240,000 after acquiring an additional 664,096 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Biogen by 1.9% during the second quarter. Janus Henderson Group PLC now owns 1,595,986 shares of the biotechnology company’s stock valued at $463,220,000 after buying an additional 30,353 shares during the period. Institutional investors and hedge funds own 87.46% of the company’s stock.
In related news, EVP Michael D. Ehlers sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the executive vice president now directly owns 4,281 shares in the company, valued at approximately $1,498,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.
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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