Leerink Swann Weighs in on Biogen Inc’s FY2017 Earnings (BIIB)

Biogen Inc (NASDAQ:BIIB) – Investment analysts at Leerink Swann raised their FY2017 earnings estimates for Biogen in a research note issued on Thursday. Leerink Swann analyst G. Porges now anticipates that the biotechnology company will post earnings of $22.62 per share for the year, up from their previous estimate of $22.59. Leerink Swann also issued estimates for Biogen’s Q1 2018 earnings at $5.74 EPS and Q2 2018 earnings at $6.41 EPS.

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

A number of other brokerages have also weighed in on BIIB. Bank of America boosted their price target on Biogen from $358.00 to $365.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Mizuho restated a “buy” rating on shares of Biogen in a research note on Thursday. Canaccord Genuity set a $340.00 price target on Biogen and gave the stock a “hold” rating in a research note on Friday, January 5th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $390.00 price target 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $353.75.

Shares of Biogen (NASDAQ BIIB) opened at $344.44 on Friday. Biogen has a 52 week low of $244.28 and a 52 week high of $348.84. The firm has a market capitalization of $72,840.00, a PE ratio of 21.12, a PEG ratio of 1.96 and a beta of 0.73. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46.

In related news, Director Alexander J. Denner purchased 30,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was bought 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 owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michel Vounatsos purchased 780 shares of the firm’s stock in a transaction on Saturday, December 29th. The stock was bought at an average cost of $320.55 per share, with a total value of $250,029.00. Following the completion of 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 disclosure for this purchase can be found here. Insiders acquired 31,560 shares of company stock valued at $10,020,858 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in BIIB. Janus Henderson Group PLC lifted its holdings in Biogen by 4,585.3% in 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 acquiring an additional 1,414,707 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Biogen by 35.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after buying an additional 600,384 shares during the period. FMR LLC raised its stake in shares of Biogen by 10.1% during the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after buying an additional 561,436 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Biogen by 24.0% during 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 buying an additional 450,207 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Biogen by 28.8% during 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 buying an additional 426,821 shares during the period. 88.14% of the stock is owned by institutional investors.

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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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