Wall Street brokerages expect that Biogen Inc (NASDAQ:BIIB) will report sales of $3.39 billion for the current fiscal quarter, according to Zacks Investment Research. Twenty Seven analysts have provided estimates for Biogen’s earnings. The highest sales estimate is $3.54 billion and the lowest is $3.27 billion. Biogen reported sales of $3.31 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.4%. The firm is expected to report its next earnings report on Thursday, January 24th.
According to Zacks, analysts expect that Biogen will report full-year sales of $13.30 billion for the current year, with estimates ranging from $13.10 billion to $13.47 billion. For the next fiscal year, analysts anticipate that the company will post sales of $13.67 billion, with estimates ranging from $12.92 billion to $14.64 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Biogen.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.78 by $0.62. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $6.31 EPS.
A number of research analysts have weighed in on BIIB shares. Morgan Stanley decreased their price objective on Biogen from $369.00 to $366.00 and set an “overweight” rating on the stock in a report on Friday, July 13th. BidaskClub upgraded Biogen from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 18th. Canaccord Genuity raised their price objective on Biogen from $335.00 to $396.00 and gave the company a “buy” rating in a report on Monday, July 23rd. JPMorgan Chase & Co. raised their price objective on Biogen from $400.00 to $445.00 and gave the company a “hold” rating in a report on Tuesday, July 24th. Finally, Mizuho reiterated a “buy” rating and set a $423.00 price target on shares of Biogen in a report on Tuesday, July 24th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $383.01.
Shares of BIIB stock opened at $325.20 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75. The firm has a market capitalization of $64.53 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.27 and a beta of 1.01. Biogen has a fifty-two week low of $249.17 and a fifty-two week high of $388.67.
In related news, EVP Michael D. Ehlers sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the executive vice president now directly owns 4,281 shares in the company, valued at approximately $1,498,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of BIIB. LeJeune Puetz Investment Counsel LLC purchased a new stake in Biogen in the 3rd quarter valued at about $107,000. Adviser Investments LLC raised its holdings in Biogen by 745.7% in the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 343 shares during the period. NEXT Financial Group Inc purchased a new stake in Biogen in the 3rd quarter valued at about $133,000. Harvest Fund Management Co. Ltd raised its holdings in Biogen by 122.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 384 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 211 shares during the period. Finally, Kaizen Advisory LLC grew its position in Biogen by 145.8% in the 2nd quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 87.55% of the company’s stock.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
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