Wall Street analysts expect that Biogen Inc (NASDAQ:BIIB) will post sales of $3.05 billion for the current quarter, Zacks Investment Research reports. Twenty Eight analysts have issued estimates for Biogen’s earnings, with the highest sales estimate coming in at $3.27 billion and the lowest estimate coming in at $2.74 billion. Biogen posted sales of $2.87 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.3%. The firm is expected to report its next earnings report on Thursday, January 25th.

On average, analysts expect that Biogen will report full year sales of $3.05 billion for the current year, with estimates ranging from $11.70 billion to $12.23 billion. For the next fiscal year, analysts forecast that the company will report sales of $12.64 billion per share, with estimates ranging from $11.59 billion to $13.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Biogen.

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

Several research firms recently commented on BIIB. Royal Bank of Canada reissued a “hold” rating and issued a $321.00 price objective on shares of Biogen in a research note on Tuesday, December 5th. Mizuho set a $400.00 target price on Biogen and gave the stock a “buy” rating in a research note on Monday, November 13th. Goldman Sachs Group upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price target for the company in a report on Wednesday, August 16th. Vetr cut Biogen from a “buy” rating to a “hold” rating and set a $316.82 target price for the company. in a report on Monday, September 4th. Finally, Morgan Stanley upgraded Biogen from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $311.00 to $375.00 in a report on Thursday, October 5th. Twelve analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $344.60.

In other news, Director Alexander J. Denner purchased 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were bought at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the transaction, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its holdings in Biogen by 4,585.3% during the second quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock valued at $392,265,000 after purchasing an additional 1,414,707 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Biogen by 35.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after acquiring an additional 600,384 shares in the last quarter. FMR LLC boosted its holdings in shares of Biogen by 10.1% in the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after acquiring an additional 561,436 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Biogen by 24.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock worth $728,314,000 after acquiring an additional 450,207 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Biogen by 28.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,906,820 shares of the biotechnology company’s stock worth $517,434,000 after acquiring an additional 426,821 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Biogen (NASDAQ BIIB) opened at $328.03 on Tuesday. Biogen has a 52-week low of $244.28 and a 52-week high of $348.84. The stock has a market capitalization of $68,892.83, a P/E ratio of 15.09, a PEG ratio of 2.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.

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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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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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