Biogen Inc. (NASDAQ:BIIB) – Jefferies Group decreased their Q3 2016 earnings estimates for shares of Biogen in a report issued on Wednesday. Jefferies Group analyst B. Abrahams now forecasts that the brokerage will earn $5.05 per share for the quarter, down from their prior estimate of $5.18. Jefferies Group currently has a “Hold” rating and a $316.00 price objective on the stock. Jefferies Group also issued estimates for Biogen’s Q4 2016 earnings at $4.94 EPS and FY2016 earnings at $19.98 EPS.
Several other equities research analysts have also issued reports on BIIB. Vetr lowered Biogen from a “strong-buy” rating to a “buy” rating and set a $273.44 price objective for the company. in a research note on Thursday, June 9th. Robert W. Baird reissued a “neutral” rating and set a $268.00 price objective on shares of Biogen in a research note on Wednesday, June 22nd. Sanford C. Bernstein initiated coverage on Biogen in a research note on Wednesday, June 29th. They set an “outperform” rating and a $282.00 price objective for the company. Bank of America Corp. reissued a “buy” rating on shares of Biogen in a research note on Thursday, June 30th. Finally, Leerink Swann reissued a “hold” rating on shares of Biogen in a research note on Thursday, June 30th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $347.34.
Biogen (NASDAQ:BIIB) opened at 305.99 on Thursday. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65. The stock’s 50 day moving average price is $308.72 and its 200-day moving average price is $279.34. The firm has a market cap of $67.05 billion, a PE ratio of 17.87 and a beta of 0.95.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.52. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The company earned $2.89 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the firm earned $4.22 EPS. Biogen’s revenue was up 11.7% on a year-over-year basis.
In related news, EVP Adriana Karaboutis sold 380 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $313.00, for a total value of $118,940.00. Following the transaction, the executive vice president now directly owns 7,172 shares of the company’s stock, valued at approximately $2,244,836. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George A. Scangos sold 157 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $280.00, for a total value of $43,960.00. Following the completion of the transaction, the chief executive officer now directly owns 54,779 shares in the company, valued at $15,338,120. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in BIIB. Howard Hughes Medical Institute bought a new stake in shares of Biogen during the first quarter worth $135,000. Kings Point Capital Management bought a new stake in shares of Biogen during the second quarter worth $145,000. Signaturefd LLC raised its stake in shares of Biogen by 217.7% in the second quarter. Signaturefd LLC now owns 718 shares of the biotechnology company’s stock worth $174,000 after buying an additional 492 shares in the last quarter. Lakeview Capital Partners LLC bought a new stake in shares of Biogen during the second quarter worth $205,000. Finally, BLB&B Advisors LLC bought a new stake in shares of Biogen during the second quarter worth $206,000. 86.21% of the stock is currently owned by institutional investors and hedge funds.
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.
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