Biogen Inc (NASDAQ:BIIB) – Equities research analysts at Oppenheimer increased their Q1 2018 earnings estimates for Biogen in a research note issued on Monday. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will post earnings per share of $5.62 for the quarter, up from their previous estimate of $5.59. Oppenheimer currently has a “Buy” rating and a $380.00 price objective on the stock. Oppenheimer also issued estimates for Biogen’s Q3 2018 earnings at $6.21 EPS and FY2018 earnings at $24.32 EPS.

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

A number of other equities research analysts also recently weighed in on BIIB. SunTrust Banks started coverage on shares of Biogen in a research note on Wednesday, September 20th. They issued a “buy” rating and a $360.00 target price on the stock. Raymond James Financial cut shares of Biogen from a “strong-buy” rating to a “market perform” rating and increased their price target for the company from $244.28 to $319.00 in a research report on Thursday, September 21st. Mizuho reiterated a “neutral” rating and set a $319.00 price target on shares of Biogen in a research report on Monday, October 2nd. Morgan Stanley upgraded shares of Biogen from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $311.00 to $375.00 in a research report on Thursday, October 5th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $315.00 price target on shares of Biogen in a research report on Thursday, October 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $353.75.

Shares of Biogen (BIIB) traded up $2.90 on Wednesday, reaching $338.85. 1,256,700 shares of the company were exchanged, compared to its average volume of 1,188,020. The stock has a market capitalization of $72,940.00, a P/E ratio of 20.78, a P/E/G ratio of 1.91 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. Biogen has a 1-year low of $244.28 and a 1-year high of $348.84.

Institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in shares of Biogen in the 3rd quarter worth about $123,494,000. Cambridge Investment Research Advisors Inc. raised its position in Biogen by 9.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,948 shares of the biotechnology company’s stock worth $1,862,000 after buying an additional 520 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Biogen by 151.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,646 shares of the biotechnology company’s stock worth $3,333,000 after buying an additional 6,409 shares during the last quarter. IFP Advisors Inc raised its position in Biogen by 47.1% in the 3rd quarter. IFP Advisors Inc now owns 3,330 shares of the biotechnology company’s stock worth $1,043,000 after buying an additional 1,066 shares during the last quarter. Finally, Bainco International Investors raised its position in Biogen by 4.4% in the 3rd quarter. Bainco International Investors now owns 18,671 shares of the biotechnology company’s stock worth $5,846,000 after buying an additional 790 shares during the last quarter. 88.14% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Alexander J. Denner purchased 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was purchased at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the transaction, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michel Vounatsos purchased 780 shares of the stock in a transaction dated Friday, December 29th. The stock was bought at an average cost of $320.55 per share, with a total value of $250,029.00. The disclosure for this purchase can be found here. Insiders have acquired 31,560 shares of company stock valued at $10,020,858 in the last three months. Insiders own 0.25% of the company’s stock.

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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).

Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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