Analysts expect that Biogen Inc (NASDAQ:BIIB) will report $3.06 billion in sales for the current quarter, Zacks Investment Research reports. Twenty Eight analysts have made 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 6.6%. The company is scheduled to report its next earnings report before the market opens on Thursday, January 25th.

On average, analysts expect that Biogen will report full-year sales of $3.06 billion for the current financial year, with estimates ranging from $11.70 billion to $12.23 billion. For the next fiscal year, analysts forecast that the firm will report sales of $12.65 billion per share, with estimates ranging from $11.59 billion to $13.71 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Biogen.

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

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada restated a “hold” rating and issued a $321.00 target price on shares of Biogen in a research note on Tuesday, December 5th. Nomura boosted their target price on Biogen from $355.00 to $420.00 and gave the stock a “buy” rating in a research note on Saturday, December 30th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Friday, January 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. Finally, Morgan Stanley upgraded Biogen from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $311.00 to $375.00 in a research note on Thursday, October 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Biogen currently has a consensus rating of “Buy” and a consensus target price of $350.13.

Biogen (NASDAQ:BIIB) opened at $335.95 on Monday. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84. The firm has a market capitalization of $71,050.00, a P/E ratio of 20.60, a PEG ratio of 1.94 and a beta of 0.73. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46.

In other Biogen news, CEO Michel Vounatsos bought 780 shares of the stock in a transaction on Saturday, December 29th. The shares were acquired at an average price of $320.55 per share, with a total value of $250,029.00. Following the acquisition, the chief executive officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,563,963.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alexander J. Denner bought 30,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were acquired at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the acquisition, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The disclosure for this purchase can be found here. Insiders have acquired a total of 31,560 shares of company stock worth $10,020,858 in the last three months. Insiders own 0.25% of the company’s stock.

A number of hedge funds have recently modified their holdings of BIIB. Assenagon Asset Management S.A. bought a new position in shares of Biogen in the third quarter worth $123,494,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Biogen by 9.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,948 shares of the biotechnology company’s stock worth $1,862,000 after purchasing an additional 520 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of Biogen by 151.3% in the third quarter. Cubist Systematic Strategies LLC now owns 10,646 shares of the biotechnology company’s stock worth $3,333,000 after purchasing an additional 6,409 shares during the period. IFP Advisors Inc increased its holdings in shares of Biogen by 47.1% in the third quarter. IFP Advisors Inc now owns 3,330 shares of the biotechnology company’s stock worth $1,043,000 after purchasing an additional 1,066 shares during the period. Finally, Bainco International Investors increased its holdings in shares of Biogen by 4.4% in the third quarter. Bainco International Investors now owns 18,671 shares of the biotechnology company’s stock worth $5,846,000 after purchasing an additional 790 shares during the period. 88.11% of the stock is currently owned by institutional investors and hedge funds.

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About Biogen

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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