Biogen Inc. (BIIB) Posts Earnings Results, Beats Estimates By $0.61 EPS
Biogen Inc. (NASDAQ:BIIB) posted its earnings results on Tuesday. The biotechnology company reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.61, Bloomberg Earnings reports. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.19 EPS.
Biogen (NASDAQ BIIB) opened at 315.73 on Wednesday. The firm has a 50-day moving average price of $324.61 and a 200-day moving average price of $286.77. Biogen has a one year low of $244.28 and a one year high of $348.84. The firm has a market cap of $66.76 billion, a PE ratio of 20.72 and a beta of 0.77.
BIIB has been the topic of a number of recent analyst reports. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 target price on the stock in a report on Tuesday, June 27th. Citigroup Inc. lowered Biogen from a “buy” rating to a “neutral” rating in a report on Monday. Stifel Nicolaus reissued a “hold” rating and set a $300.00 target price on shares of Biogen in a report on Thursday, October 12th. Robert W. Baird reissued a “hold” rating and set a $290.00 target price on shares of Biogen in a report on Friday, August 25th. Finally, Morgan Stanley reissued a “buy” rating on shares of Biogen in a report on Tuesday, October 17th. Eleven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $342.07.
TRADEMARK VIOLATION NOTICE: “Biogen Inc. (BIIB) Posts Earnings Results, Beats Estimates By $0.61 EPS” was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another site, it was stolen and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.americanbankingnews.com/2017/10/24/biogen-inc-biib-announces-quarterly-earnings-results.html.
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).
Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.