Biogen Inc (NASDAQ:BIIB) – Research analysts at Wedbush boosted their Q2 2019 earnings estimates for Biogen in a research report issued to clients and investors on Tuesday, July 16th. Wedbush analyst L. Chico now anticipates that the biotechnology company will earn $7.44 per share for the quarter, up from their previous estimate of $7.18. Wedbush currently has a “Neutral” rating and a $231.00 target price on the stock. Wedbush also issued estimates for Biogen’s FY2019 earnings at $28.88 EPS.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.10. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $6.05 EPS.
Other equities analysts have also recently issued reports about the company. Goldman Sachs Group set a €76.00 ($88.37) price objective on Symrise and gave the company a “neutral” rating in a research report on Thursday, March 21st. Barclays reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Thursday, May 9th. Guggenheim set a $236.00 price objective on Biogen and gave the company a “hold” rating in a research report on Friday, March 22nd. William Blair reaffirmed a “market perform” rating on shares of Williams-Sonoma in a research report on Thursday, March 21st. Finally, Royal Bank of Canada set a $165.00 price objective on Allergan and gave the company a “hold” rating in a research report on Monday, March 25th. Four analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $277.36.
BIIB stock opened at $232.23 on Wednesday. The company has a market cap of $44.90 billion, a PE ratio of 8.86, a PEG ratio of 0.93 and a beta of 0.96. Biogen has a 12-month low of $216.12 and a 12-month high of $388.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.84 and a quick ratio of 2.60. The company has a 50 day simple moving average of $231.72.
Large investors have recently bought and sold shares of the company. Weaver Consulting Group purchased a new stake in shares of Biogen in the 1st quarter worth $28,000. Accident Compensation Corp purchased a new stake in shares of Biogen in the 1st quarter worth $284,000. Piedmont Investment Advisors Inc. increased its stake in shares of Biogen by 41.5% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 23,763 shares of the biotechnology company’s stock worth $5,617,000 after purchasing an additional 6,966 shares in the last quarter. Fosun International Ltd increased its stake in shares of Biogen by 20.0% in the 1st quarter. Fosun International Ltd now owns 2,400 shares of the biotechnology company’s stock worth $559,000 after purchasing an additional 400 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Biogen by 22.9% in the 1st quarter. Nordea Investment Management AB now owns 523,236 shares of the biotechnology company’s stock worth $123,682,000 after purchasing an additional 97,622 shares in the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.
In related news, Director Alexander J. Denner acquired 118,342 shares of Biogen stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost of $229.94 per share, for a total transaction of $27,211,559.48. Following the purchase, the director now directly owns 10,909 shares of the company’s stock, valued at approximately $2,508,415.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michel Vounatsos acquired 4,351 shares of Biogen stock in a transaction dated Wednesday, May 1st. The stock was bought at an average price of $231.48 per share, with a total value of $1,007,169.48. The disclosure for this purchase can be found here. Insiders have bought a total of 173,035 shares of company stock worth $39,759,632 over the last three months. Insiders own 0.39% of the company’s stock.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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