Biogen Inc. (NASDAQ:BIIB) – Equities researchers at Leerink Swann raised their FY2019 EPS estimates for shares of Biogen in a research report issued on Wednesday. Leerink Swann analyst G. Porges now anticipates that the brokerage will post earnings per share of $24.54 for the year, up from their prior forecast of $24.51. Leerink Swann currently has a “Hold” rating and a $367.00 price objective on the stock. Leerink Swann also issued estimates for Biogen’s FY2020 earnings at $26.39 EPS.
A number of other research analysts have also commented on the company. Vetr lowered Biogen from a “hold” rating to a “sell” rating and set a $299.76 price objective on the stock. in a report on Tuesday, August 2nd. Credit Suisse Group AG reissued a “hold” rating and set a $322.00 price objective on shares of Biogen in a report on Wednesday, August 3rd. Piper Jaffray Cos. reissued a “neutral” rating on shares of Biogen in a report on Wednesday, August 3rd. Morgan Stanley reissued a “buy” rating and set a $385.00 price objective on shares of Biogen in a report on Wednesday, August 3rd. Finally, Jefferies Group reissued a “buy” rating and set a $319.00 price objective on shares of Biogen in a report on Thursday, August 4th. Ten equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $347.34.
Biogen (NASDAQ:BIIB) traded down 1.33% during mid-day trading on Friday, reaching $290.50. The company’s stock had a trading volume of 1,149,803 shares. The firm has a market capitalization of $63.65 billion, a price-to-earnings ratio of 16.97 and a beta of 0.95. The firm has a 50-day moving average of $305.97 and a 200 day moving average of $280.96. Biogen has a 1-year low of $223.02 and a 1-year high of $333.65.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, beating the consensus estimate of $4.69 by $0.52. The company earned $2.89 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.22 EPS.
In related news, CEO George A. Scangos sold 157 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $280.00, for a total transaction of $43,960.00. Following the sale, the chief executive officer now owns 54,779 shares of the company’s stock, valued at $15,338,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Caroline Dorsa sold 27,570 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total value of $8,656,980.00. Following the sale, the director now directly owns 19,663 shares in the company, valued at approximately $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the company. Bogle Investment Management L P DE bought a new stake in shares of Biogen during the first quarter worth about $11,662,000. Prudential PLC increased its stake in shares of Biogen by 396.9% in the first quarter. Prudential PLC now owns 28,247 shares of the biotechnology company’s stock worth $7,353,000 after buying an additional 22,562 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Biogen by 4.0% in the first quarter. Geode Capital Management LLC now owns 1,995,002 shares of the biotechnology company’s stock worth $518,399,000 after buying an additional 75,964 shares in the last quarter. Altrinsic Global Advisors LLC bought a new stake in shares of Biogen during the first quarter worth about $28,965,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Biogen by 17.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,124,950 shares of the biotechnology company’s stock worth $292,847,000 after buying an additional 166,534 shares in the last quarter. 86.21% of the stock is currently owned by institutional investors and hedge funds.
Biogen Company Profile
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.