Biogen Inc (BIIB) Expected to Earn Q4 2018 Earnings of $6.41 Per Share

Biogen Inc (NASDAQ:BIIB) – Equities researchers at Oppenheimer boosted their Q4 2018 earnings per share (EPS) estimates for Biogen in a research report issued to clients and investors on Tuesday. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will post earnings per share of $6.41 for the quarter, up from their previous forecast of $5.74. Oppenheimer currently has a “Buy” rating and a $380.00 target price on the stock. Oppenheimer also issued estimates for Biogen’s Q1 2019 earnings at $6.30 EPS, Q2 2019 earnings at $6.71 EPS, Q3 2019 earnings at $6.92 EPS and Q4 2019 earnings at $6.93 EPS.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim started coverage on shares of Biogen in a research note on Monday, October 23rd. They issued a “buy” rating and a $402.00 price objective for the company. Bank of America upped their price objective on shares of Biogen from $358.00 to $365.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Morgan Stanley reaffirmed a “buy” rating on shares of Biogen in a research note on Tuesday, October 17th. Mizuho raised shares of Biogen from a “neutral” rating to a “buy” rating and upped their price objective for the company from $319.00 to $400.00 in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus raised shares of Biogen from a “hold” rating to a “buy” rating and upped their price objective for the company from $300.00 to $415.00 in a research note on Tuesday, October 17th. 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 company’s stock. The company presently has an average rating of “Buy” and an average price target of $353.75.

Shares of Biogen (BIIB) traded down $2.03 during trading on Friday, hitting $342.41. 1,232,214 shares of the stock were exchanged, compared to its average volume of 1,120,000. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84. The stock has a market cap of $72,410.00, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.96 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.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business 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 company earned $5.19 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year.

In other Biogen news, Director Alexander J. Denner purchased 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, 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 is available through this hyperlink. Also, CEO Michel Vounatsos purchased 780 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was acquired at an average price of $320.55 per share, with a total value of $250,029.00. The disclosure for this purchase can be found here. Insiders acquired a total of 31,560 shares of company stock valued at $10,020,858 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Atlantic Trust LLC purchased a new stake in Biogen during the 2nd quarter valued at about $114,000. Horan Capital Advisors LLC. purchased a new stake in Biogen during the 3rd quarter valued at about $128,000. Massey Quick Simon & CO. LLC grew its position in Biogen by 84.8% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 195 shares during the last quarter. Gs Investments Inc. purchased a new stake in Biogen during the 2nd quarter valued at about $136,000. Finally, Patten Group Inc. grew its position in Biogen by 4,308.7% during the 3rd quarter. Patten Group Inc. now owns 20,368 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 19,906 shares during the last quarter. Institutional investors own 88.14% 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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