Biogen Inc (NASDAQ:BIIB) – Stock analysts at Wedbush raised their Q4 2020 earnings per share estimates for Biogen in a report released on Tuesday, July 14th. Wedbush analyst L. Chico now forecasts that the biotechnology company will post earnings per share of $7.16 for the quarter, up from their previous forecast of $7.13. Wedbush has a “Neutral” rating and a $295.00 price target on the stock.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 22nd. The biotechnology company reported $9.14 earnings per share (EPS) for the quarter, topping the 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%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.98 earnings per share.
A number of other research firms also recently issued reports on BIIB. Cantor Fitzgerald restated a “neutral” rating and issued a $308.00 price target (down from $361.00) on shares of Biogen in a research report on Friday, May 1st. SVB Leerink restated an “outperform” rating on shares of Biogen in a research report on Wednesday, April 8th. Mizuho restated a “hold” rating and issued a $316.00 price target on shares of Biogen in a research report on Thursday, June 18th. Robert W. Baird reduced their price target on shares of Biogen from $290.00 to $228.00 and set an “underperform” rating on the stock in a research report on Friday, June 19th. Finally, BidaskClub downgraded shares of Biogen from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 11th. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $306.39.
NASDAQ BIIB opened at $281.27 on Thursday. Biogen has a 12 month low of $215.77 and a 12 month high of $374.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.73 and a quick ratio of 1.54. The company has a market capitalization of $45.90 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 0.61 and a beta of 0.54. The company’s fifty day moving average price is $281.01 and its two-hundred day moving average price is $300.00.
Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Biogen by 2.5% in the first quarter. BlackRock Inc. now owns 16,043,037 shares of the biotechnology company’s stock worth $5,075,698,000 after buying an additional 384,396 shares during the period. Primecap Management Co. CA boosted its holdings 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 worth $5,051,320,000 after buying an additional 776,508 shares during the period. State Street Corp boosted its holdings in shares of Biogen by 0.4% during the first quarter. State Street Corp now owns 8,262,242 shares of the biotechnology company’s stock worth $2,614,008,000 after purchasing an additional 30,055 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Biogen by 2.1% during the first quarter. Geode Capital Management LLC now owns 3,372,294 shares of the biotechnology company’s stock worth $1,065,558,000 after purchasing an additional 69,657 shares during the period. Finally, Norges Bank acquired a new stake in shares of Biogen during the fourth quarter worth approximately $716,195,000. Institutional investors own 87.34% 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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