Biogen Inc. (NASDAQ:BIIB) – Stock analysts at Jefferies Group cut their FY2017 EPS estimates for Biogen in a report released on Wednesday. Jefferies Group analyst B. Abrahams now anticipates that the firm will earn $18.76 per share for the year, down from their previous estimate of $19.18. Jefferies Group currently has a “Hold” rating and a $316.00 target price on the stock. Jefferies Group also issued estimates for Biogen’s FY2018 earnings at $19.94 EPS, FY2019 earnings at $21.09 EPS and FY2020 earnings at $22.84 EPS.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.69 by $0.52. The business earned $2.89 billion during the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.22 earnings per share.
BIIB has been the topic of several other reports. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $343.10 target price on the stock in a report on Thursday, September 29th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $386.00 target price on shares of Biogen in a report on Friday, September 16th. BMO Capital Markets reiterated a “market perform” rating and set a $304.00 target price on shares of Biogen in a report on Tuesday, October 4th. HC Wainwright reiterated a “buy” rating and set a $360.00 target price on shares of Biogen in a report on Thursday, September 8th. Finally, Robert W. Baird restated a “neutral” rating and set a $268.00 price objective on shares of Biogen in a report on Wednesday, June 22nd. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $347.34.
Shares of Biogen (NASDAQ:BIIB) opened at 305.59 on Friday. Biogen has a 1-year low of $223.02 and a 1-year high of $333.65. The stock’s 50 day moving average price is $308.50 and its 200 day moving average price is $279.69. The stock has a market cap of $66.96 billion, a PE ratio of 17.85 and a beta of 0.95.
In related news, CEO George A. Scangos sold 157 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 54,779 shares of the company’s stock, valued at $15,338,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Adriana Karaboutis sold 262 shares of the company’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total value of $81,728.28. Following the transaction, the executive vice president now directly owns 7,579 shares in the company, valued at $2,364,193.26. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ancora Inverness LLC acquired a new position in Biogen during the first quarter valued at $686,000. Spark Investment Management LLC purchased a new position in shares of Biogen during the first quarter worth approximately $1,275,000. Hikari Power Ltd increased its position in shares of Biogen by 371.4% in the first quarter. Hikari Power Ltd now owns 13,200 shares of the biotechnology company’s stock worth $3,436,000 after buying an additional 10,400 shares during the period. Adell Harriman & Carpenter Inc. increased its position in shares of Biogen by 67.0% in the first quarter. Adell Harriman & Carpenter Inc. now owns 7,800 shares of the biotechnology company’s stock worth $2,030,000 after buying an additional 3,130 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Biogen during the first quarter worth approximately $49,410,000. 86.21% of the stock is currently owned by hedge funds and other institutional investors.
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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