Biogen (NASDAQ:BIIB) – Research analysts at Leerink Swann raised their Q2 2018 earnings per share estimates for Biogen in a note issued to investors on Tuesday, April 17th. Leerink Swann analyst G. Porges now expects that the biotechnology company will earn $6.43 per share for the quarter, up from their previous estimate of $6.38. Leerink Swann also issued estimates for Biogen’s Q3 2018 earnings at $6.39 EPS and Q4 2018 earnings at $6.48 EPS.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business earned $5.04 EPS. Biogen’s revenue for the quarter was up 15.1% compared to the same quarter last year.
Several other research firms have also commented on BIIB. Deutsche Bank reiterated a “buy” rating and set a $373.00 price objective on shares of Biogen in a research report on Friday, January 26th. Oppenheimer increased their price objective on shares of Biogen from $380.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Jefferies Group reiterated a “hold” rating on shares of Biogen in a research report on Friday, January 26th. BMO Capital Markets reiterated a “buy” rating on shares of Biogen in a research report on Thursday, January 25th. Finally, Cowen reissued a “buy” rating and issued a $408.00 target price on shares of Biogen in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $366.49.
BIIB stock opened at $268.03 on Thursday. Biogen has a 52 week low of $244.28 and a 52 week high of $370.57. 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 firm has a market cap of $56,011.22, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86.
A number of institutional investors have recently modified their holdings of BIIB. Buckingham Capital Management Inc. grew its holdings in Biogen by 13.2% during the 3rd quarter. Buckingham Capital Management Inc. now owns 2,723 shares of the biotechnology company’s stock worth $853,000 after acquiring an additional 318 shares in the last quarter. Vident Investment Advisory LLC bought a new position in Biogen during the 3rd quarter worth about $308,000. GSA Capital Partners LLP grew its holdings in Biogen by 68.5% during the 3rd quarter. GSA Capital Partners LLP now owns 2,288 shares of the biotechnology company’s stock worth $716,000 after acquiring an additional 930 shares in the last quarter. Atlantic Trust Group LLC grew its holdings in Biogen by 5.3% during the 3rd quarter. Atlantic Trust Group LLC now owns 16,692 shares of the biotechnology company’s stock worth $5,226,000 after acquiring an additional 844 shares in the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd grew its holdings in Biogen by 70.0% during the 4th quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 3,400 shares of the biotechnology company’s stock worth $1,083,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors own 88.92% of the company’s stock.
In related news, EVP Alfred Sandrock sold 259 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $290.83, for a total value of $75,324.97. Following the transaction, the executive vice president now owns 6,553 shares of the company’s stock, valued at approximately $1,905,808.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 2,296 shares of company stock worth $678,993 in the last ninety days. 0.25% of the stock is currently owned by insiders.
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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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