Biogen Inc (NASDAQ:BIIB) – Equities research analysts at Oppenheimer raised their Q1 2018 EPS estimates for Biogen in a research note issued on Monday. Oppenheimer analyst J. Olson now anticipates that the biotechnology company will post earnings of $5.62 per share for the quarter, up from their previous forecast of $5.59. Oppenheimer has a “Buy” rating and a $380.00 price objective on the stock. Oppenheimer also issued estimates for Biogen’s Q3 2018 earnings at $6.21 EPS and FY2018 earnings at $24.32 EPS.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the prior year, the company earned $5.19 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis.
BIIB has been the subject of a number of other research reports. Royal Bank of Canada restated a “hold” rating and issued a $321.00 price objective on shares of Biogen in a research report on Tuesday, December 5th. Nomura increased their target price on Biogen from $355.00 to $420.00 and gave the stock a “buy” rating in a report on Saturday, December 30th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Mizuho set a $400.00 target price on Biogen and gave the stock a “buy” rating in a report on Monday, November 13th. Finally, Morgan Stanley upgraded Biogen from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $311.00 to $375.00 in a report on Thursday, October 5th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $353.75.
Biogen (NASDAQ:BIIB) traded down $0.43 on Wednesday, hitting $344.44. 1,302,400 shares of the company were exchanged, compared to its average volume of 1,217,633. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. Biogen has a 1-year low of $244.28 and a 1-year high of $348.84. The company has a market cap of $72,450.00, a PE ratio of 21.12, a P/E/G ratio of 1.96 and a beta of 0.73.
In other news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was acquired at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The transaction 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 business’s stock in a transaction that occurred on Friday, December 29th. The stock was purchased at an average price of $320.55 per share, with a total value of $250,029.00. The disclosure for this purchase can be found here. Insiders purchased a total of 31,560 shares of company stock valued at $10,020,858 over the last quarter. 0.25% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Horan Capital Advisors LLC. acquired a new stake in Biogen during the third quarter worth approximately $128,000. Atlantic Trust LLC acquired a new stake in Biogen during the second quarter worth approximately $114,000. Massey Quick Simon & CO. LLC lifted its position in Biogen by 84.8% during 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 during the last quarter. Cable Hill Partners LLC lifted its position in Biogen by 224.7% during 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 during the last quarter. Finally, Gs Investments Inc. acquired a new stake in Biogen during the second quarter worth approximately $136,000. Hedge funds and other institutional investors own 88.14% 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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