Biogen Inc (NASDAQ:BIIB) – Research analysts at SunTrust Banks raised their Q1 2018 earnings per share estimates for Biogen in a research report issued to clients and investors on Friday. SunTrust Banks analyst Y. Suneja now expects that the biotechnology company will earn $6.03 per share for the quarter, up from their prior forecast of $5.77. SunTrust Banks currently has a “Buy” rating and a $392.00 target price on the stock. SunTrust Banks also issued estimates for Biogen’s Q2 2018 earnings at $6.24 EPS, Q3 2018 earnings at $6.19 EPS, Q4 2018 earnings at $6.34 EPS and FY2018 earnings at $24.80 EPS.
Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.18). Biogen had a return on equity of 38.32% and a net margin of 20.69%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the business earned $5.04 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year.
Biogen (NASDAQ BIIB) opened at $367.91 on Monday. Biogen has a 12 month low of $244.28 and a 12 month high of $370.57. The company has a quick ratio of 1.90, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $77,800.00, a PE ratio of 30.89, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73.
In other news, Director Alexander J. Denner acquired 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the acquisition, the director now owns 10,029 shares in the company, valued at approximately $3,182,803.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michel Vounatsos acquired 780 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were purchased at an average cost of $320.55 per share, for a total transaction of $250,029.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 31,560 shares of company stock worth $10,020,858. 0.25% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Horan Capital Advisors LLC. purchased a new position in shares of Biogen during the 3rd quarter valued at about $128,000. Atlantic Trust LLC purchased a new position in shares of Biogen during the 2nd quarter valued at about $114,000. Massey Quick Simon & CO. LLC increased its stake in Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after purchasing an additional 195 shares during the period. Cable Hill Partners LLC increased its stake in Biogen by 224.7% in the 3rd quarter. Cable Hill Partners LLC now owns 487 shares of the biotechnology company’s stock worth $152,000 after purchasing an additional 337 shares during the period. Finally, Gs Investments Inc. purchased a new position in Biogen in the 2nd quarter worth approximately $136,000. 88.18% of the stock is currently owned by institutional investors.
WARNING: “Q1 2018 Earnings Estimate for Biogen Inc Issued By SunTrust Banks (BIIB)” was published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/29/q1-2018-earnings-estimate-for-biogen-inc-issued-by-suntrust-banks-biib.html.
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).
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.