Biogen Inc. (NASDAQ:BIIB) – Analysts at Jefferies Group boosted their Q3 2017 EPS estimates for Biogen in a report released on Tuesday. Jefferies Group analyst M. Yee now expects that the biotechnology company will post earnings of $5.69 per share for the quarter, up from their previous estimate of $4.91. Jefferies Group has a “Hold” rating and a $310.00 price objective on the stock. Jefferies Group also issued estimates for Biogen’s FY2017 earnings at $21.51 EPS.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the business earned $5.21 earnings per share. Biogen’s revenue was up 6.4% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “Equities Analysts Set Expectations for Biogen Inc.’s Q3 2017 Earnings (NASDAQ:BIIB)” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/07/28/equities-analysts-set-expectations-for-biogen-inc-s-q3-2017-earnings-nasdaqbiib.html.

BIIB has been the topic of a number of other reports. Leerink Swann set a $300.00 target price on shares of Biogen and gave the stock a “hold” rating in a research report 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 report on Tuesday, June 27th. Deutsche Bank AG initiated coverage on shares of Biogen in a research report on Friday, June 23rd. They set a “buy” rating and a $315.00 target price on the stock. Cowen and Company reiterated a “buy” rating and set a $338.00 target price on shares of Biogen in a research report on Tuesday, April 25th. Finally, Barclays PLC reiterated an “overweight” rating and set a $360.00 target price (down from $380.00) on shares of Biogen in a research report on Sunday, April 23rd. Fourteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $328.89.

Shares of Biogen (NASDAQ BIIB) opened at 287.95 on Friday. The firm has a 50 day moving average of $273.55 and a 200 day moving average of $273.76. Biogen has a 52 week low of $244.28 and a 52 week high of $307.76. The firm has a market cap of $61.08 billion, a price-to-earnings ratio of 18.04 and a beta of 0.78.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock valued at $4,837,418,000 after buying an additional 17,074,075 shares during the period. Vanguard Group Inc. boosted its position in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after buying an additional 342,568 shares during the period. State Street Corp boosted its position in Biogen by 2.3% in the first quarter. State Street Corp now owns 9,580,383 shares of the biotechnology company’s stock valued at $2,619,469,000 after buying an additional 219,502 shares during the period. Clearbridge Investments LLC boosted its position in Biogen by 4.0% in the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock valued at $2,493,871,000 after buying an additional 351,224 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Biogen by 11.1% in the first quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock valued at $803,122,000 after buying an additional 294,308 shares during the period. Institutional investors own 87.50% of the company’s stock.

In other news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $6,455,042.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian S. Posner sold 1,084 shares of the company’s 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 transaction, the director now owns 6,330 shares of the company’s stock, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. Insiders sold 13,816 shares of company stock valued at $3,931,380 in the last quarter. 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).

Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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