Equities analysts predict that Biogen Inc (NASDAQ:BIIB) will post earnings of $6.73 per share for the current fiscal quarter, Zacks Investment Research reports. Twenty Seven analysts have issued estimates for Biogen’s earnings. The highest EPS estimate is $7.65 and the lowest is $5.96. Biogen posted earnings per share of $5.26 in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.9%. The company is expected to report its next quarterly earnings report on Thursday, January 24th.
On average, analysts expect that Biogen will report full-year earnings of $25.82 per share for the current year, with EPS estimates ranging from $24.97 to $26.55. For the next year, analysts anticipate that the firm will report earnings of $27.98 per share, with EPS estimates ranging from $25.10 to $30.76. Zacks’ EPS calculations are an average based on a survey of research firms that follow Biogen.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, beating the consensus estimate of $6.78 by $0.62. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm earned $6.31 earnings per share.
Several analysts have recently weighed in on BIIB shares. BidaskClub downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 29th. Oppenheimer set a $400.00 target price on Biogen and gave the company a “buy” rating in a research note on Sunday, September 16th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of Biogen in a research note on Monday, October 1st. Raymond James restated a “buy” rating on shares of Biogen in a research note on Wednesday, October 3rd. Finally, Citigroup lowered their target price on Biogen from $483.00 to $470.00 and set a “buy” rating for the company in a research note on Monday, October 8th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $382.58.
Shares of Biogen stock traded down $9.97 during trading hours on Friday, hitting $316.73. 1,138,555 shares of the company’s stock traded hands, compared to its average volume of 1,016,322. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.75 and a quick ratio of 2.46. The company has a market capitalization of $65.82 billion, a PE ratio of 14.52, a P/E/G ratio of 1.26 and a beta of 0.95. Biogen has a twelve month low of $249.17 and a twelve month high of $388.67.
In related news, EVP Michael D. Ehlers sold 1,000 shares of Biogen 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 completion of the transaction, the executive vice president now directly owns 4,281 shares in the company, valued at $1,498,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of BIIB. Capital World Investors boosted its stake in Biogen by 503.2% in the third quarter. Capital World Investors now owns 2,473,708 shares of the biotechnology company’s stock valued at $873,986,000 after acquiring an additional 2,063,598 shares during the period. Morgan Stanley raised its holdings in shares of Biogen by 61.1% during the second quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock valued at $508,240,000 after buying an additional 664,096 shares during the last quarter. Mainstay Capital Management LLC ADV raised its holdings in shares of Biogen by 21,407.0% during the second quarter. Mainstay Capital Management LLC ADV now owns 665,213 shares of the biotechnology company’s stock valued at $2,537,000 after buying an additional 662,120 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Biogen during the third quarter valued at approximately $218,735,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Biogen by 163.2% during the third quarter. Renaissance Technologies LLC now owns 846,075 shares of the biotechnology company’s stock valued at $298,927,000 after buying an additional 524,575 shares during the last quarter. Institutional investors own 87.16% 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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