Biogen Inc. (NASDAQ:BIIB) – Stock analysts at Leerink Swann raised their FY2017 earnings per share (EPS) estimates for Biogen in a research note issued to investors on Wednesday, Zacks Investment Research reports. Leerink Swann analyst G. Porges now anticipates that the biotechnology company will post earnings of $22.59 per share for the year, up from their prior estimate of $22.45. Leerink Swann currently has a “Market Perform” rating and a $338.00 price target on the stock.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the firm posted $5.19 EPS. Biogen’s revenue was up 4.1% compared to the same quarter last year.
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Several other equities research analysts have also recently issued reports on BIIB. Oppenheimer Holdings, Inc. began coverage on Biogen in a report on Thursday. They issued an “outperform” rating and a $350.00 price objective on the stock. BMO Capital Markets lifted their price objective on Biogen from $381.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price objective on the stock in a report on Thursday, August 10th. Cowen and Company reiterated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a report on Wednesday, August 16th. Twelve investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Biogen has an average rating of “Buy” and a consensus price target of $341.89.
Biogen (NASDAQ:BIIB) traded up $0.48 during mid-day trading on Thursday, reaching $310.44. The company had a trading volume of 820,700 shares, compared to its average volume of 1,616,859. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84. The firm has a market cap of $65,650.92, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.94 and a beta of 0.72.
Several hedge funds have recently modified their holdings of BIIB. Waldron LP grew its stake in shares of Biogen by 17.0% during the first quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock worth $826,000 after purchasing an additional 439 shares in the last quarter. Stelac Advisory Services LLC acquired a new position in shares of Biogen during the first quarter worth $164,000. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Biogen by 1,216.5% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 287,705 shares of the biotechnology company’s stock worth $78,664,000 after purchasing an additional 265,851 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Biogen by 11.8% during the first quarter. Stifel Financial Corp now owns 113,286 shares of the biotechnology company’s stock worth $30,951,000 after purchasing an additional 11,980 shares in the last quarter. Finally, Glenview Trust Co grew its stake in shares of Biogen by 7.0% during the first quarter. Glenview Trust Co now owns 32,318 shares of the biotechnology company’s stock worth $8,837,000 after purchasing an additional 2,110 shares in the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.
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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