Wall Street analysts expect Biogen (NASDAQ:BIIB) to post $3.15 billion in sales for the current fiscal quarter, according to Zacks. Thirty analysts have made estimates for Biogen’s earnings, with the highest sales estimate coming in at $3.33 billion and the lowest estimate coming in at $3.00 billion. Biogen posted sales of $2.81 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.1%. The company is scheduled to report its next earnings report before the market opens on Tuesday, April 24th.
On average, analysts expect that Biogen will report full year sales of $12.98 billion for the current year, with estimates ranging from $12.67 billion to $13.94 billion. For the next year, analysts forecast that the firm will post sales of $13.35 billion per share, with estimates ranging from $12.39 billion to $14.98 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Biogen.
Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.18). The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.08 billion. Biogen had a net margin of 20.69% and a return on equity of 38.32%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.04 EPS.
Several analysts have commented on the company. Mizuho set a $433.00 price target on Biogen and gave the company a “buy” rating in a report on Wednesday. Sanford C. Bernstein set a $318.00 price target on Biogen and gave the company a “buy” rating in a report on Tuesday, April 10th. Canaccord Genuity set a $350.00 price target on Biogen and gave the company a “hold” rating in a report on Monday, April 9th. Barclays cut Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $395.00 to $295.00 in a report on Thursday, April 5th. Finally, Credit Suisse Group restated a “buy” rating and issued a $384.00 price target on shares of Biogen in a report on Monday, March 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $366.49.
BIIB traded down $2.05 during midday trading on Tuesday, hitting $265.39. The company’s stock had a trading volume of 1,197,053 shares, compared to its average volume of 1,710,548. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.34 and a quick ratio of 2.07. The stock has a market capitalization of $56,580.33, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86. Biogen has a 52-week low of $244.28 and a 52-week high of $370.57.
In related news, EVP Alfred Sandrock sold 259 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total transaction of $75,324.97. Following the transaction, the executive vice president now directly owns 6,553 shares of the company’s stock, valued at approximately $1,905,808.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 2,296 shares of company stock worth $678,993 over the last three months. 0.25% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in BIIB. Alliancebernstein L.P. lifted its position in Biogen by 27.0% during the 4th quarter. Alliancebernstein L.P. now owns 3,414,672 shares of the biotechnology company’s stock worth $1,087,812,000 after acquiring an additional 727,007 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in Biogen by 426.5% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 245,830 shares of the biotechnology company’s stock worth $78,314,000 after acquiring an additional 199,140 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Biogen by 91.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 291,276 shares of the biotechnology company’s stock worth $92,792,000 after acquiring an additional 139,529 shares in the last quarter. Smith Asset Management Group LP lifted its position in Biogen by 164.8% during the 4th quarter. Smith Asset Management Group LP now owns 223,079 shares of the biotechnology company’s stock worth $71,177,000 after acquiring an additional 138,832 shares in the last quarter. Finally, Argent Capital Management LLC acquired a new position in Biogen during the 3rd quarter worth approximately $41,167,000. 88.93% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.