Biogen Inc. (BIIB) to Post Q3 2018 Earnings of $6.17 Per Share, William Blair Forecasts
Biogen Inc. (NASDAQ:BIIB) – Research analysts at William Blair increased their Q3 2018 EPS estimates for shares of Biogen in a report issued on Tuesday. William Blair analyst M. Phipps now expects that the biotechnology company will post earnings per share of $6.17 for the quarter, up from their prior estimate of $5.78. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Biogen’s Q4 2018 earnings at $6.20 EPS.
BIIB has been the topic of a number of other research reports. Leerink Swann set a $300.00 target price on shares of Biogen and gave the company a “hold” rating in a research note on Monday, April 3rd. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 target price on the stock in a research note on Tuesday, June 27th. Deutsche Bank AG initiated coverage on shares of Biogen in a research note on Friday, June 23rd. They issued a “buy” rating and a $315.00 target price on the stock. Cowen and Company restated a “buy” rating and issued a $338.00 target price on shares of Biogen in a research note on Tuesday, April 25th. Finally, Barclays PLC restated an “overweight” rating and issued a $360.00 target price (down previously from $380.00) on shares of Biogen in a research note on Sunday, April 23rd. Fourteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $327.16.
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Shares of Biogen (NASDAQ BIIB) traded down 3.5137% during mid-day trading on Thursday, hitting $285.2232. The stock had a trading volume of 991,039 shares. The company’s 50 day moving average price is $272.62 and its 200 day moving average price is $273.66. Biogen has a 12-month low of $244.28 and a 12-month high of $307.76. The stock has a market cap of $60.50 billion, a P/E ratio of 17.8644 and a beta of 0.78.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $5.21 earnings per share.
A number of hedge funds have recently added to or reduced their stakes in BIIB. Janney Montgomery Scott LLC raised its stake in Biogen by 7.9% in the second quarter. Janney Montgomery Scott LLC now owns 36,502 shares of the biotechnology company’s stock valued at $9,905,000 after buying an additional 2,673 shares in the last quarter. Taylor Cottrill Erickson & Associates Inc. raised its stake in Biogen by 3.1% in the second quarter. Taylor Cottrill Erickson & Associates Inc. now owns 992 shares of the biotechnology company’s stock valued at $269,000 after buying an additional 30 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in Biogen by 18,428.2% in the second quarter. Harbour Capital Advisors LLC now owns 233,641 shares of the biotechnology company’s stock valued at $861,000 after buying an additional 232,380 shares in the last quarter. IBM Retirement Fund raised its stake in Biogen by 112.4% in the second quarter. IBM Retirement Fund now owns 5,190 shares of the biotechnology company’s stock valued at $1,574,000 after buying an additional 2,746 shares in the last quarter. Finally, NGAM Advisors L.P. raised its stake in Biogen by 3.0% in the second quarter. NGAM Advisors L.P. now owns 60,577 shares of the biotechnology company’s stock valued at $16,438,000 after buying an additional 1,765 shares in the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.
In related news, Director Brian S. Posner sold 1,084 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of the sale, the director now directly owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the sale, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,816 shares of company stock valued at $3,931,380. Company insiders own 0.32% of the company’s stock.
Biogen Company Profile
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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