Q2 2017 Earnings Forecast for Biogen Inc. Issued By Leerink Swann (NASDAQ:BIIB)
Biogen Inc. (NASDAQ:BIIB) – Leerink Swann boosted their Q2 2017 earnings per share (EPS) estimates for Biogen in a report released on Monday. Leerink Swann analyst G. Porges now anticipates that the biotechnology company will earn $4.11 per share for the quarter, up from their previous forecast of $3.86. Leerink Swann currently has a “Market Perform” rating on the stock. Leerink Swann also issued estimates for Biogen’s Q3 2017 earnings at $5.46 EPS, Q4 2017 earnings at $5.41 EPS and FY2017 earnings at $20.17 EPS.
Several other equities analysts also recently issued reports on the stock. Citigroup Inc. increased their price objective on shares of Biogen from $305.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, April 4th. Cowen and Company restated a “buy” rating and issued a $338.00 price objective on shares of Biogen in a report on Tuesday, April 25th. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 price objective for the company. in a report on Tuesday, April 25th. Piper Jaffray Companies set a $442.00 price objective on shares of Biogen and gave the company a “buy” rating in a report on Monday, May 15th. Finally, ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Thirteen research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $325.48.
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Biogen (NASDAQ:BIIB) opened at 282.60 on Wednesday. The stock has a market cap of $59.94 billion, a PE ratio of 17.70 and a beta of 0.78. Biogen has a 1-year low of $244.28 and a 1-year high of $307.76. The company’s 50 day moving average is $267.17 and its 200-day moving average is $273.75.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.97 by $0.23. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Biogen had a net margin of 30.17% and a return on equity of 38.17%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.79 EPS.
In other news, VP Paul J. Clancy sold 9,892 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $290.00, for a total transaction of $2,868,680.00. Following the completion of the sale, the vice president now owns 10,813 shares of the company’s stock, valued at $3,135,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander J. Denner purchased 73,858 shares of the firm’s stock in a transaction dated Thursday, April 27th. The shares were bought at an average cost of $278.50 per share, with a total value of $20,569,453.00. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in BIIB. Pathstone Family Office LLC purchased a new position in shares of Biogen during the first quarter valued at about $102,000. Prentiss Smith & Co. Inc. boosted its position in shares of Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares during the period. Crestwood Advisors Group LLC purchased a new position in shares of Biogen during the first quarter valued at about $106,000. Independent Portfolio Consultants Inc. boosted its position in shares of Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the period. Finally, Winfield Associates Inc. boosted its position in shares of Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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