Brokerages Expect Biogen Inc. (BIIB) to Announce $5.61 EPS
Equities research analysts expect Biogen Inc. (NASDAQ:BIIB) to post earnings of $5.61 per share for the current quarter, according to Zacks. Twenty Three analysts have made estimates for Biogen’s earnings, with estimates ranging from $5.10 to $6.16. Biogen posted earnings of $5.19 per share in the same quarter last year, which would indicate a positive year over year growth rate of 8.1%. The business is expected to report its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Biogen will report full year earnings of $21.37 per share for the current fiscal year, with EPS estimates ranging from $20.60 to $22.31. For the next year, analysts expect that the firm will report earnings of $23.11 per share, with EPS estimates ranging from $20.54 to $25.89. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Biogen.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.21 earnings per share.
Several brokerages have recently issued reports on BIIB. Piper Jaffray Companies set a $442.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Monday, May 15th. 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 research note on Tuesday, April 25th. Cowen and Company reissued a “buy” rating and set a $338.00 price objective on shares of Biogen in a research note on Tuesday, April 25th. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG began coverage on shares of Biogen in a research note on Friday, June 23rd. They set a “buy” rating and a $315.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Biogen has a consensus rating of “Buy” and a consensus target price of $328.81.
In related 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 sale, the executive vice president now owns 22,258 shares in the company, valued at approximately $6,455,042.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 sale, 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. 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.
Several large investors have recently modified their holdings of BIIB. Pathstone Family Office LLC purchased a new stake in shares of Biogen during the first quarter valued at approximately $102,000. Prentiss Smith & Co. Inc. increased its stake 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 stake in shares of Biogen during the first quarter valued at approximately $106,000. Independent Portfolio Consultants Inc. increased its stake 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. increased its stake 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. Institutional investors and hedge funds own 88.38% of the company’s stock.
Shares of Biogen (NASDAQ:BIIB) opened at 281.77 on Friday. The stock has a market capitalization of $59.57 billion, a price-to-earnings ratio of 18.49 and a beta of 0.79. Biogen has a 52-week low of $244.28 and a 52-week high of $329.83. The stock has a 50 day moving average price of $283.10 and a 200-day moving average price of $274.37.
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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