Q4 2017 EPS Estimates for Biogen Inc. Boosted by Analyst (BIIB)
Biogen Inc. (NASDAQ:BIIB) – Equities researchers at Jefferies Group upped their Q4 2017 EPS estimates for shares of Biogen in a research note issued on Tuesday. Jefferies Group analyst M. Yee now forecasts that the biotechnology company will post earnings of $5.59 per share for the quarter, up from their previous forecast of $5.36. Jefferies Group has a “Hold” rating and a $310.00 price objective on the stock. Jefferies Group also issued estimates for Biogen’s FY2018 earnings at $21.91 EPS.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $5.21 earnings per share.
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A number of other brokerages have also recently commented on BIIB. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Mizuho lowered their price objective on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 31st. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 price objective on the stock. in a research note on Tuesday, April 25th. Cowen and Company reissued an “outperform” rating and issued a $271.00 price objective on shares of Biogen in a research note on Monday, July 3rd. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, June 26th. Fourteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and an average price target of $327.16.
Biogen (NASDAQ BIIB) traded down 1.69% during trading on Thursday, hitting $290.60. 697,930 shares of the stock traded hands. The company’s 50 day moving average price is $272.62 and its 200-day moving average price is $273.66. Biogen has a 52-week low of $244.28 and a 52-week high of $307.76. The stock has a market cap of $61.64 billion, a P/E ratio of 18.20 and a beta of 0.78.
A number of institutional investors have recently added to or reduced their stakes in the company. Pathstone Family Office LLC bought a new stake in Biogen during the first quarter worth about $102,000. Prentiss Smith & Co. Inc. boosted its stake in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in Biogen during the first quarter worth about $106,000. Independent Portfolio Consultants Inc. boosted its stake in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares during the last quarter. Finally, Winfield Associates Inc. boosted its stake in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares during the last quarter. 87.50% of the stock is owned by hedge funds and other institutional investors.
In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the transaction, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The disclosure for this sale can be found here. Insiders have sold 13,816 shares of company stock valued at $3,931,380 in the last three months. Corporate 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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