Brokerages Expect Biogen Inc. (BIIB) to Announce $5.61 Earnings Per Share
Equities research analysts expect Biogen Inc. (NASDAQ:BIIB) to announce $5.61 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Twenty Three analysts have issued estimates for Biogen’s earnings, with estimates ranging from $5.10 to $6.16. Biogen reported earnings of $5.19 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 8.1%. The company is expected to report its next quarterly earnings report on Wednesday, October 25th.
On average, 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 $22.32. For the next year, analysts forecast that the company will post earnings of $23.11 per share, with EPS estimates ranging from $20.54 to $25.89. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Biogen.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the prior year, the firm posted $5.21 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis.
A number of equities research analysts have commented on the company. UBS AG upgraded Biogen from a “sell” rating to a “neutral” rating and upped their price target for the company from $262.00 to $270.00 in a research report on Monday, June 19th. Morgan Stanley reissued an “equal weight” rating and issued a $307.00 price objective on shares of Biogen in a research note on Wednesday, June 14th. Leerink Swann reissued a “market perform” rating and issued a $338.00 price objective (up from $304.00) on shares of Biogen in a research note on Wednesday, July 26th. Vetr downgraded Biogen from a “buy” rating to a “hold” rating and set a $298.30 price objective on the stock. in a research note on Wednesday, July 26th. Finally, Goldman Sachs Group, Inc. (The) raised Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a research note on Wednesday, August 16th. Thirteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $328.70.
In related news, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian S. Posner sold 1,084 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the sale, the director now owns 6,330 shares in the company, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. Insiders sold 13,816 shares of company stock worth $3,931,380 in the last quarter. 0.32% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Pathstone Family Office LLC purchased a new stake in shares of Biogen in the first quarter worth $102,000. Prentiss Smith & Co. Inc. raised 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 worth $104,000 after buying an additional 50 shares in the last quarter. Atlantic Trust LLC purchased a new stake in shares of Biogen in the second quarter worth $114,000. Independent Portfolio Consultants Inc. raised 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 worth $123,000 after buying an additional 219 shares in the last quarter. Finally, Winfield Associates Inc. raised 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 worth $128,000 after buying an additional 67 shares in the last quarter. Institutional investors own 87.26% of the company’s stock.
Biogen (NASDAQ:BIIB) traded up 2.06% during trading on Thursday, reaching $323.90. The company’s stock had a trading volume of 1,571,554 shares. The stock has a market cap of $68.48 billion, a price-to-earnings ratio of 21.25 and a beta of 0.77. The firm has a 50 day moving average price of $292.04 and a 200-day moving average price of $276.62. Biogen has a 52-week low of $244.28 and a 52-week high of $325.77.
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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