Biogen Inc. (NASDAQ:BIIB) – Equities research analysts at Jefferies Group issued their Q2 2017 EPS estimates for shares of Biogen in a note issued to investors on Monday. Jefferies Group analyst M. Yee forecasts that the biotechnology company will post earnings of $3.92 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $310.00 target price on the stock. Jefferies Group also issued estimates for Biogen’s Q3 2017 earnings at $4.91 EPS, Q4 2017 earnings at $5.36 EPS, FY2017 earnings at $19.39 EPS and FY2018 earnings at $21.69 EPS.
A number of other research firms have also recently weighed in on BIIB. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Leerink Swann cut shares of Biogen from an “outperform” rating to a “market perform” rating and set a $300.00 target price on the stock. in a research note on Thursday, March 16th. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $310.17 target price on the stock in a research note on Monday, March 20th. Mizuho lowered their target price on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 31st. Finally, Cowen and Company reissued an “outperform” rating and issued a $271.00 target price on shares of Biogen in a research note on Monday, July 3rd. Twelve analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $327.72.
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Biogen (BIIB) opened at 278.36 on Thursday. The firm has a 50-day moving average price of $259.24 and a 200-day moving average price of $274.78. The firm has a market capitalization of $59.04 billion, a P/E ratio of 17.43 and a beta of 0.78. Biogen has a 52 week low of $227.01 and a 52 week high of $307.76.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 EPS for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.23. Biogen had a return on equity of 38.17% and a net margin of 30.17%. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the firm posted $4.79 earnings per share. Biogen’s quarterly revenue was up 3.1% compared to the same quarter last year.
In other news, CEO Michel Vounatsos bought 1,402 shares of the business’s stock in a transaction on Monday, May 1st. The shares were bought at an average cost of $271.35 per share, for a total transaction of $380,432.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of the sale, the director now owns 6,330 shares in the company, valued at $1,622,442.30. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
Large investors have recently bought and sold shares of the company. Cigna Investments Inc. New purchased a new stake in Biogen during the fourth quarter valued at $2,315,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Biogen by 44.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,743 shares of the biotechnology company’s stock valued at $2,203,000 after buying an additional 2,383 shares during the period. Guggenheim Capital LLC raised its stake in Biogen by 7.9% in the fourth quarter. Guggenheim Capital LLC now owns 329,979 shares of the biotechnology company’s stock valued at $93,576,000 after buying an additional 24,020 shares during the period. Perceptive Advisors LLC purchased a new stake in Biogen during the fourth quarter valued at $545,000. Finally, Focused Wealth Management Inc raised its stake in Biogen by 18.8% in the fourth quarter. Focused Wealth Management Inc now owns 475 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 75 shares during the period. Institutional investors own 87.36% of the company’s stock.
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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