Biogen Inc (NASDAQ:BIIB) – Stock analysts at Oppenheimer boosted their FY2017 EPS estimates for shares of Biogen in a research note issued on Monday. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will post earnings per share of $21.88 for the year, up from their prior estimate of $21.67. Oppenheimer has a “Buy” rating and a $380.00 price target on the stock. Oppenheimer also issued estimates for Biogen’s Q4 2017 earnings at $5.32 EPS, FY2019 earnings at $26.85 EPS, FY2020 earnings at $29.16 EPS, FY2021 earnings at $32.74 EPS and FY2022 earnings at $35.56 EPS.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.70 by $0.61. The business had revenue of $3.08 billion during 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%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.19 earnings per share.

A number of other brokerages also recently commented on BIIB. Bank of America boosted their target price on shares of Biogen from $358.00 to $365.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Mizuho set a $400.00 target price on shares of Biogen and gave the stock a “buy” rating in a research note on Friday, January 5th. Canaccord Genuity set a $340.00 target price on shares of Biogen and gave the stock a “hold” rating in a research note on Friday, January 5th. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $390.00 target price on shares of Biogen in a research note on Monday, October 23rd. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $353.75.

Biogen (NASDAQ BIIB) opened at $344.87 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. The company has a market cap of $71,658.95, a price-to-earnings ratio of 21.14, a P/E/G ratio of 1.92 and a beta of 0.72. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84.

In other news, Director Robert W. Pangia sold 5,832 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total value of $1,922,518.80. Following the completion of the sale, the director now directly owns 23,539 shares of the company’s stock, valued at $7,759,631.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander J. Denner bought 30,000 shares of Biogen stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the acquisition, the director now directly owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The disclosure for this purchase can be found here. Insiders bought 31,560 shares of company stock valued at $10,020,858 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of 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 worth $392,265,000 after acquiring an additional 1,414,707 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Biogen by 35.1% during the third 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 during the period. FMR LLC increased its stake in shares of Biogen by 10.1% during the second 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 during the period. Bank of New York Mellon Corp increased its stake in shares of Biogen by 24.0% during the third 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 during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Biogen by 28.8% during the second 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 during the period. 88.14% of the stock is 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).

Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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