Biogen Inc. (NASDAQ:BIIB) – SunTrust Banks reduced their FY2020 earnings per share (EPS) estimates for Biogen in a research note issued on Wednesday. SunTrust Banks analyst Y. Suneja now forecasts that the biotechnology company will post earnings of $26.70 per share for the year, down from their prior estimate of $28.30. SunTrust Banks currently has a “Buy” rating and a $354.00 target price on the stock. SunTrust Banks also issued estimates for Biogen’s FY2021 earnings at $28.35 EPS.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the business earned $5.19 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis.

COPYRIGHT VIOLATION WARNING: “Biogen Inc. to Post FY2020 Earnings of $26.70 Per Share, SunTrust Banks Forecasts (BIIB)” was published by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/27/biogen-inc-to-post-fy2020-earnings-of-26-70-per-share-suntrust-banks-forecasts-biib.html.

A number of other research firms also recently commented on BIIB. Cowen and Company reissued an “outperform” rating and issued a $271.00 price objective on shares of Biogen in a research note on Monday, July 3rd. Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $309.45 price objective on the stock. in a research note on Wednesday, July 5th. Morgan Stanley reissued an “equal weight” rating on shares of Biogen in a research note on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and issued a $310.00 price objective on shares of Biogen in a research note on Tuesday, July 11th. Finally, Credit Suisse Group set a $300.00 price objective on Biogen and gave the stock a “hold” rating in a research note on Friday, July 14th. Twelve investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $341.25.

Shares of Biogen (BIIB) traded up 0.03% during midday trading on Friday, reaching $307.74. The company’s stock had a trading volume of 1,679,737 shares. The firm has a market capitalization of $65.07 billion, a PE ratio of 20.19 and a beta of 0.77. Biogen has a 1-year low of $244.28 and a 1-year high of $348.84. The company’s 50-day moving average price is $324.58 and its 200 day moving average price is $286.98.

Several large investors have recently made changes to their positions in the business. Cable Hill Partners LLC lifted its position in shares of Biogen by 224.7% in the third quarter. Cable Hill Partners LLC now owns 487 shares of the biotechnology company’s stock worth $152,000 after buying an additional 337 shares during the last quarter. Enterprise Financial Services Corp lifted its position in shares of Biogen by 2,469.4% in the third quarter. Enterprise Financial Services Corp now owns 925 shares of the biotechnology company’s stock worth $290,000 after buying an additional 889 shares during the last quarter. Parametrica Management Ltd acquired a new stake in shares of Biogen in the third quarter worth about $203,000. Victory Capital Management Inc. lifted its position in shares of Biogen by 7.2% in the third quarter. Victory Capital Management Inc. now owns 8,433 shares of the biotechnology company’s stock worth $2,641,000 after buying an additional 570 shares during the last quarter. Finally, OLD National Bancorp IN lifted its position in shares of Biogen by 18.0% in the third quarter. OLD National Bancorp IN now owns 1,205 shares of the biotechnology company’s stock worth $377,000 after buying an additional 184 shares during the last quarter. 87.47% of the stock is owned by institutional investors.

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).

Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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.