Leerink Swann Equities Analysts Lift Earnings Estimates for Biogen Inc (BIIB)

Biogen Inc (NASDAQ:BIIB) – Research analysts at Leerink Swann lifted their Q4 2017 earnings per share (EPS) estimates for shares of Biogen in a research report issued to clients and investors on Thursday. Leerink Swann analyst G. Porges now anticipates that the biotechnology company will post earnings per share of $6.08 for the quarter, up from their prior estimate of $6.04. Leerink Swann also issued estimates for Biogen’s Q3 2018 earnings at $6.33 EPS, Q4 2018 earnings at $6.31 EPS, FY2018 earnings at $24.79 EPS, FY2019 earnings at $25.86 EPS, FY2020 earnings at $26.46 EPS and FY2021 earnings at $26.26 EPS.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the business posted $5.19 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis.

Several other equities analysts have also recently weighed in on the company. Barclays reaffirmed a “buy” rating and set a $395.00 target price on shares of Biogen in a research note on Sunday. Mizuho reiterated a “buy” rating and set a $400.00 price target on shares of Biogen in a report on Thursday. Canaccord Genuity set a $350.00 price target on Biogen and gave the company a “hold” rating in a report on Tuesday, January 16th. Citigroup reiterated an “outperform” rating and set a $380.00 price target (up from $350.00) on shares of Biogen in a report on Tuesday, January 16th. Finally, Oppenheimer set a $380.00 price target on Biogen and gave the company a “buy” rating in a report on Monday, January 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $354.96.

Biogen (NASDAQ BIIB) opened at $342.41 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84. The firm has a market capitalization of $72,410.00, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.94 and a beta of 0.73.

In other Biogen news, Director Alexander J. Denner purchased 30,000 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total value of $1,922,518.80. Following the transaction, the director now owns 23,539 shares of the company’s stock, valued at $7,759,631.35. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 31,560 shares of company stock valued at $10,020,858. Corporate insiders own 0.25% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Ingalls & Snyder LLC increased its position in shares of Biogen by 7.9% during the fourth quarter. Ingalls & Snyder LLC now owns 6,668 shares of the biotechnology company’s stock valued at $2,124,000 after purchasing an additional 491 shares during the period. Intermede Investment Partners Ltd increased its position in shares of Biogen by 4.9% during the fourth quarter. Intermede Investment Partners Ltd now owns 136,957 shares of the biotechnology company’s stock valued at $43,630,000 after purchasing an additional 6,450 shares during the period. Catawba Capital Management VA increased its position in shares of Biogen by 25.5% during the fourth quarter. Catawba Capital Management VA now owns 1,450 shares of the biotechnology company’s stock valued at $462,000 after purchasing an additional 295 shares during the period. Saratoga Research & Investment Management increased its position in shares of Biogen by 3.0% during the fourth quarter. Saratoga Research & Investment Management now owns 145,759 shares of the biotechnology company’s stock valued at $46,434,000 after purchasing an additional 4,250 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Biogen by 1,109.1% during the fourth quarter. State of Alaska Department of Revenue now owns 22,248 shares of the biotechnology company’s stock valued at $7,086,000 after purchasing an additional 20,408 shares during the period. Institutional investors own 88.14% of the company’s stock.

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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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