Biogen Inc (NASDAQ:BIIB) – Analysts at Oppenheimer upped their FY2017 earnings per share estimates for Biogen in a report released on Monday, Zacks Investment Research reports. Oppenheimer analyst J. Olson now anticipates that the biotechnology company will post earnings of $21.88 per share for the year, up from their prior estimate of $21.67. Oppenheimer has a “Buy” rating and a $400.00 price objective on the stock. Oppenheimer also issued estimates for Biogen’s Q4 2017 earnings at $5.32 EPS, FY2019 earnings at $26.85 EPS, FY2020 earnings at $29.16 EPS, FY2021 earnings at $32.74 EPS and FY2022 earnings at $35.56 EPS.
Several other equities research analysts also recently weighed in on BIIB. Canaccord Genuity restated a “hold” rating and set a $350.00 price target on shares of Biogen in a report on Wednesday. JPMorgan Chase & Co. restated a “buy” rating on shares of Biogen in a report on Thursday. Mizuho restated a “buy” rating and set a $433.00 price target (up previously from $400.00) on shares of Biogen in a report on Sunday, February 4th. HC Wainwright restated a “buy” rating and set a $363.00 price target (up previously from $340.00) on shares of Biogen in a report on Friday, January 26th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Biogen in a research report on Friday, January 26th. Eight investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Biogen presently has an average rating of “Buy” and an average target price of $368.99.
Shares of Biogen (BIIB) traded up $4.99 during midday trading on Thursday, reaching $316.78. The company’s stock had a trading volume of 2,180,000 shares, compared to its average volume of 1,320,000. The company has a current ratio of 2.34, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47. Biogen has a 12 month low of $244.28 and a 12 month high of $370.57. The stock has a market cap of $66,990.00, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 1.65 and a beta of 0.75.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the company earned $5.04 EPS. Biogen’s revenue for the quarter was up 15.1% compared to the same quarter last year.
In related news, Director Alexander J. Denner acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was bought at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the transaction, the director now owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total value of $1,922,518.80. Following the sale, the director now directly owns 23,539 shares of the company’s stock, valued at $7,759,631.35. The disclosure for this sale can be found here. Over the last three months, insiders purchased 31,560 shares of company stock valued at $10,020,858. Insiders own 0.25% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. HPM Partners LLC raised its stake in shares of Biogen by 11.8% during the 2nd quarter. HPM Partners LLC now owns 1,976 shares of the biotechnology company’s stock worth $536,000 after buying an additional 208 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of Biogen by 7.4% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 114,574 shares of the biotechnology company’s stock worth $31,091,000 after buying an additional 7,879 shares in the last quarter. Jacobi Capital Management LLC raised its stake in shares of Biogen by 3.2% during the 2nd quarter. Jacobi Capital Management LLC now owns 1,609 shares of the biotechnology company’s stock worth $440,000 after buying an additional 50 shares in the last quarter. Martingale Asset Management L P raised its stake in shares of Biogen by 2.7% during the 2nd quarter. Martingale Asset Management L P now owns 11,659 shares of the biotechnology company’s stock worth $3,164,000 after buying an additional 301 shares in the last quarter. Finally, Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Biogen during the 2nd quarter worth approximately $515,000. 88.11% of the stock is owned by institutional investors.
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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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