Equities research analysts predict that Biogen Inc (NASDAQ:BIIB) will report earnings of $7.68 per share for the current fiscal quarter, Zacks Investment Research reports. Thirty analysts have issued estimates for Biogen’s earnings. The lowest EPS estimate is $7.34 and the highest is $8.37. Biogen reported earnings of $9.15 per share in the same quarter last year, which would indicate a negative year over year growth rate of 16.1%. The firm is expected to issue its next quarterly earnings results on Tuesday, July 28th.
On average, analysts expect that Biogen will report full-year earnings of $33.14 per share for the current year, with EPS estimates ranging from $31.43 to $35.42. For the next year, analysts anticipate that the business will post earnings of $32.29 per share, with EPS estimates ranging from $26.00 to $37.88. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Biogen.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 22nd. The biotechnology company reported $9.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $7.73 by $1.41. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.41 billion. Biogen had a net margin of 40.76% and a return on equity of 49.22%. Biogen’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.98 EPS.
Several research analysts have commented on BIIB shares. Wolfe Research started coverage on shares of Biogen in a report on Tuesday, March 31st. They issued a “market perform” rating and a $331.00 price target for the company. Sanford C. Bernstein downgraded shares of Biogen from an “outperform” rating to a “market perform” rating and cut their price target for the company from $360.00 to $297.00 in a report on Tuesday, June 9th. Oppenheimer cut their price target on shares of Biogen from $390.00 to $365.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. ValuEngine downgraded shares of Biogen from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, Stifel Nicolaus cut their price target on shares of Biogen from $296.00 to $294.00 and set a “hold” rating for the company in a report on Wednesday, April 22nd. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $308.59.
NASDAQ:BIIB traded up $4.77 during trading hours on Thursday, hitting $265.12. The stock had a trading volume of 38,506 shares, compared to its average volume of 2,157,147. The company has a 50 day simple moving average of $294.22 and a two-hundred day simple moving average of $302.21. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.73 and a quick ratio of 1.54. Biogen has a one year low of $215.77 and a one year high of $374.99. The firm has a market capitalization of $42.21 billion, a price-to-earnings ratio of 8.19, a P/E/G ratio of 0.56 and a beta of 0.54.
A number of large investors have recently modified their holdings of BIIB. Norges Bank purchased a new position in Biogen in the 4th quarter worth $716,195,000. Primecap Management Co. CA increased its position in shares of Biogen by 5.1% in the first quarter. Primecap Management Co. CA now owns 15,965,989 shares of the biotechnology company’s stock valued at $5,051,320,000 after acquiring an additional 776,508 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in shares of Biogen by 279.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 860,123 shares of the biotechnology company’s stock valued at $255,223,000 after acquiring an additional 633,249 shares during the period. APG Asset Management N.V. increased its position in shares of Biogen by 155.5% in the first quarter. APG Asset Management N.V. now owns 730,430 shares of the biotechnology company’s stock valued at $153,769,000 after acquiring an additional 444,508 shares during the period. Finally, Orbimed Advisors LLC increased its position in shares of Biogen by 644.8% in the first quarter. Orbimed Advisors LLC now owns 480,400 shares of the biotechnology company’s stock valued at $151,989,000 after acquiring an additional 415,900 shares during the period. Institutional investors own 87.45% of the company’s stock.
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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