Biogen Inc (NASDAQ:BIIB) – Stock analysts at Oppenheimer increased their Q3 2018 EPS estimates for Biogen in a note issued to investors on Friday, October 19th. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will post earnings per share of $6.66 for the quarter, up from their previous estimate of $6.61. Oppenheimer has a “Buy” rating and a $400.00 price target on the stock. Oppenheimer also issued estimates for Biogen’s FY2021 earnings at $30.25 EPS and FY2022 earnings at $33.17 EPS.
Several other equities analysts have also weighed in on BIIB. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Monday, June 25th. Mizuho set a $423.00 target price on shares of Biogen and gave the company a “buy” rating in a report on Friday, June 29th. Citigroup upgraded shares of Biogen from a “neutral” rating to a “buy” rating and set a $371.00 target price on the stock in a report on Friday, July 6th. Canaccord Genuity set a $335.00 target price on shares of Biogen and gave the company a “buy” rating in a report on Friday, July 6th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Biogen in a report on Friday, July 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $382.89.
NASDAQ:BIIB opened at $320.41 on Monday. The company has a current ratio of 2.36, a quick ratio of 2.06 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $64.54 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.24 and a beta of 0.86. Biogen has a 1-year low of $249.17 and a 1-year high of $388.67.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share for the quarter, beating the consensus estimate of $5.22 by $0.58. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.25 billion. Biogen had a net margin of 23.06% and a return on equity of 38.17%. Biogen’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $5.04 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Rainier Group Investment Advisory LLC purchased a new stake in Biogen during the 1st quarter worth approximately $100,000. Adviser Investments LLC increased its stake in Biogen by 745.7% during the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after buying an additional 343 shares during the period. NEXT Financial Group Inc purchased a new stake in Biogen during the 3rd quarter worth approximately $133,000. Kaizen Advisory LLC increased its stake in Biogen by 145.8% during the 2nd quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock worth $145,000 after buying an additional 296 shares during the period. Finally, Gs Investments Inc. purchased a new stake in Biogen during the 2nd quarter worth approximately $145,000. 87.55% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Michael D. Ehlers sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the executive vice president now directly owns 4,281 shares in the company, valued at approximately $1,498,350. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.
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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