Biogen Inc. (BIIB) to Post FY2021 Earnings of $26.45 Per Share, Leerink Swann Forecasts
Biogen Inc. (NASDAQ:BIIB) – Leerink Swann increased their FY2021 EPS estimates for shares of Biogen in a note issued to investors on Monday. Leerink Swann analyst G. Porges now expects that the biotechnology company will earn $26.45 per share for the year, up from their prior estimate of $26.27. Leerink Swann currently has a “Market Perform” rating and a $338.00 target price on the stock.
A number of other analysts also recently issued reports on the stock. Vetr downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 price target on the stock. in a report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price target on the stock in a report on Wednesday, August 16th. BMO Capital Markets reaffirmed a “hold” rating and set a $318.00 price target on shares of Biogen in a report on Tuesday, July 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $311.00 price target (up previously from $301.00) on shares of Biogen in a report on Wednesday, July 26th. Finally, BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Twelve research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $341.03.
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Biogen (NASDAQ:BIIB) traded down 4.21% on Tuesday, reaching $314.73. 5,173,300 shares of the company traded hands. Biogen has a one year low of $244.28 and a one year high of $348.84. The company has a market capitalization of $66.54 billion, a PE ratio of 20.65 and a beta of 0.77. The stock’s 50 day moving average price is $324.86 and its 200 day moving average price is $286.43.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.61 by $0.70. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the company earned $5.19 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year.
Several hedge funds have recently added to or reduced their stakes in BIIB. Botty Investors LLC raised its holdings in Biogen by 75.0% in the second quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock worth $3,048,000 after purchasing an additional 4,812 shares in the last quarter. BB&T Securities LLC raised its holdings in Biogen by 25.0% in the second quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock worth $3,524,000 after purchasing an additional 2,598 shares in the last quarter. Vanguard Group Inc. raised its holdings in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after purchasing an additional 342,568 shares in the last quarter. Israel Discount Bank of New York bought a new position in Biogen in the first quarter worth about $894,000. Finally, Neuberger Berman Group LLC raised its holdings in Biogen by 18.6% in the second quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock worth $7,591,000 after purchasing an additional 4,389 shares in the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.
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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