Biogen Inc. (NASDAQ:BIIB) – Equities researchers at Leerink Swann upped their FY2019 earnings estimates for Biogen in a report released on Wednesday. Leerink Swann analyst G. Porges now expects that the firm will earn $24.54 per share for the year, up from their previous forecast of $24.51. Leerink Swann 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.
Other equities analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $360.00 price target on shares of Biogen in a research note on Wednesday. Vetr raised shares of Biogen from a “hold” rating to a “buy” rating and set a $321.54 price target on the stock in a research note on Monday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $386.00 price target on shares of Biogen in a research note on Friday, October 7th. Jefferies Group lowered their price target on shares of Biogen from $323.00 to $316.00 and set a “hold” rating on the stock in a research note on Wednesday, October 5th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $304.00 price target on shares of Biogen in a research note on Tuesday, October 4th. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Biogen presently has a consensus rating of “Buy” and a consensus target price of $347.34.
Biogen (NASDAQ:BIIB) traded down 1.33% during midday trading on Friday, reaching $290.50. 1,149,750 shares of the company traded hands. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65. The firm has a market capitalization of $63.65 billion, a PE ratio of 16.97 and a beta of 0.95. The company’s 50-day moving average price is $306.44 and its 200 day moving average price is $280.68.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.69 by $0.52. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The firm earned $2.89 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the business earned $4.22 earnings per share. Biogen’s revenue was up 11.7% compared to the same quarter last year.
In other news, 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 transaction of $8,656,980.00. Following the completion of the transaction, the director now directly owns 19,663 shares in the company, valued at approximately $6,174,182. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO George A. Scangos sold 157 shares of the 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 transaction, the chief executive officer now owns 54,779 shares of the company’s stock, valued at $15,338,120. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Biogen by 9.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,909 shares of the biotechnology company’s stock valued at $1,018,000 after buying an additional 338 shares during the period. Spark Investment Management LLC purchased a new position in shares of Biogen during the first quarter valued at about $1,275,000. Ancora Inverness LLC purchased a new position in shares of Biogen during the first quarter valued at about $686,000. AMF Pensionsforsakring AB boosted its position in shares of Biogen by 6.4% in the first quarter. AMF Pensionsforsakring AB now owns 284,958 shares of the biotechnology company’s stock valued at $74,180,000 after buying an additional 17,134 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Biogen by 9.6% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,663 shares of the biotechnology company’s stock valued at $1,214,000 after buying an additional 410 shares during the period. Institutional investors own 86.21% of the company’s stock.
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.
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