Biogen Inc (NASDAQ:BIIB) – Equities researchers at Cantor Fitzgerald upped their FY2018 earnings per share estimates for shares of Biogen in a research note issued to investors on Friday. Cantor Fitzgerald analyst W. Tanner now expects that the biotechnology company will post earnings of $24.63 per share for the year, up from their previous estimate of $23.78. Cantor Fitzgerald has a “Hold” rating and a $279.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Biogen’s FY2019 earnings at $25.26 EPS.
Several other equities analysts have also issued reports on the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $390.00 price objective on shares of Biogen in a research report on Monday, December 18th. Nomura boosted their price objective on Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Royal Bank of Canada reiterated a “hold” rating and issued a $321.00 price objective on shares of Biogen in a research report on Tuesday, December 5th. SunTrust Banks reiterated a “buy” rating and issued a $354.00 price objective on shares of Biogen in a research report on Tuesday, October 24th. Finally, Canaccord Genuity started coverage on Biogen in a research report on Friday, October 27th. They issued a “hold” rating and a $340.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $364.72.
Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. Biogen’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.04 earnings per share.
Institutional investors have recently made changes to their positions in the company. Bancorpsouth Inc. increased its holdings in shares of Biogen by 8.8% during the 2nd quarter. Bancorpsouth Inc. now owns 1,950 shares of the biotechnology company’s stock worth $529,000 after acquiring an additional 157 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Biogen by 82.1% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 9,648 shares of the biotechnology company’s stock worth $2,618,000 after acquiring an additional 4,350 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of Biogen by 95.2% during the 2nd quarter. Bamco Inc. NY now owns 12,935 shares of the biotechnology company’s stock worth $3,510,000 after acquiring an additional 6,310 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Biogen by 30.9% during the 2nd quarter. Stifel Financial Corp now owns 148,278 shares of the biotechnology company’s stock worth $40,169,000 after acquiring an additional 34,992 shares during the last quarter. Finally, GMT Capital Corp increased its holdings in shares of Biogen by 14.3% during the 2nd quarter. GMT Capital Corp now owns 252,200 shares of the biotechnology company’s stock worth $69,085,000 after acquiring an additional 31,600 shares during the last quarter. Institutional investors own 88.23% of the company’s stock.
In other news, 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 transaction of $1,922,518.80. Following the sale, the director now owns 23,539 shares in the company, valued at approximately $7,759,631.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michel Vounatsos acquired 780 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were bought at an average price of $320.55 per share, for a total transaction of $250,029.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 31,560 shares of company stock worth $10,020,858. Company insiders own 0.25% 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).
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