Biogen Inc to Post Q1 2018 Earnings of $6.04 Per Share, William Blair Forecasts (BIIB)

Biogen Inc (NASDAQ:BIIB) – Equities research analysts at William Blair dropped their Q1 2018 earnings estimates for shares of Biogen in a report issued on Thursday. William Blair analyst M. Phipps now forecasts that the biotechnology company will post earnings of $6.04 per share for the quarter, down from their previous estimate of $6.08. William Blair also issued estimates for Biogen’s FY2020 earnings at $28.80 EPS.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the firm earned $5.04 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year.

A number of other research firms have also issued reports on BIIB. HC Wainwright restated a “buy” rating and set a $363.00 price target (up previously from $340.00) on shares of Biogen in a report on Friday. Citigroup restated an “outperform” rating and set a $380.00 price target (up previously from $350.00) on shares of Biogen in a report on Tuesday, January 16th. Mizuho set a $400.00 price target on shares of Biogen and gave the company a “buy” rating in a report on Thursday, January 18th. Jefferies Group restated a “hold” rating on shares of Biogen in a report on Friday. Finally, Cantor Fitzgerald restated a “hold” rating and set a $279.00 price target on shares of Biogen in a report on Tuesday, October 24th. Nine analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and an average price target of $364.72.

Shares of Biogen (BIIB) opened at $367.91 on Monday. Biogen has a 1-year low of $244.28 and a 1-year high of $370.57. The company has a current ratio of 2.34, a quick ratio of 1.90 and a debt-to-equity ratio of 0.47. The stock has a market cap of $77,800.00, a P/E ratio of 30.89, a PEG ratio of 1.96 and a beta of 0.73.

Hedge funds have recently bought and sold shares of the business. Horan Capital Advisors LLC. bought a new stake in Biogen in the third quarter worth approximately $128,000. Atlantic Trust LLC bought a new stake in Biogen in the second quarter worth approximately $114,000. Massey Quick Simon & CO. LLC grew its position in Biogen by 84.8% in the third quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after acquiring an additional 195 shares in the last quarter. Cable Hill Partners LLC grew its position in Biogen by 224.7% in the third quarter. Cable Hill Partners LLC now owns 487 shares of the biotechnology company’s stock worth $152,000 after acquiring an additional 337 shares in the last quarter. Finally, Gs Investments Inc. bought a new stake in Biogen in the second quarter worth approximately $136,000. 88.18% of the stock is owned by institutional investors.

In related news, Director Robert W. Pangia sold 5,832 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michel Vounatsos bought 780 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was acquired 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 purchased 31,560 shares of company stock worth $10,020,858 over the last ninety days. 0.25% of the stock is currently owned by insiders.

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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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