Brokers Issue Forecasts for Biogen Inc.’s FY2017 Earnings (BIIB)
Biogen Inc. (NASDAQ:BIIB) – Leerink Swann raised their FY2017 EPS estimates for shares of Biogen in a research report issued on Monday. Leerink Swann analyst G. Porges now forecasts that the biotechnology company will post earnings of $22.45 per share for the year, up from their previous estimate of $22.31. Leerink Swann currently has a “Market Perform” rating and a $338.00 target price on the stock. Leerink Swann also issued estimates for Biogen’s Q4 2017 earnings at $6.07 EPS, FY2018 earnings at $24.46 EPS, FY2019 earnings at $25.84 EPS and FY2020 earnings at $26.77 EPS.
Several other analysts have also commented on BIIB. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $262.00 to $270.00 in a report on Monday, June 19th. Mizuho raised shares of Biogen from a “neutral” rating to a “buy” rating and raised their price target for the company from $319.00 to $400.00 in a research report on Tuesday. Stifel Nicolaus reissued a “hold” rating and set a $300.00 price target on shares of Biogen in a research report on Thursday, October 12th. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price target for the company in a research report on Thursday, August 10th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. Eleven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Biogen has a consensus rating of “Buy” and an average target price of $339.66.
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Biogen (NASDAQ BIIB) opened at 335.68 on Tuesday. The firm has a market capitalization of $70.97 billion, a P/E ratio of 22.03 and a beta of 0.77. The stock has a 50 day moving average price of $319.52 and a 200-day moving average price of $283.51. Biogen has a 52 week low of $244.28 and a 52 week high of $344.37.
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 analysts’ consensus estimates of $4.36 by $0.68. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.21 EPS.
In other news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the sale, the executive vice president now owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIIB. Pathstone Family Office LLC bought a new stake in Biogen in the first quarter valued at about $102,000. Prentiss Smith & Co. Inc. increased its holdings in 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 purchasing an additional 50 shares during the last quarter. Atlantic Trust LLC bought a new stake in Biogen in the second quarter valued at about $114,000. Independent Portfolio Consultants Inc. increased its holdings in 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 purchasing an additional 219 shares during the last quarter. Finally, Winfield Associates Inc. increased its holdings in 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 purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 87.62% 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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