Biogen Inc (BIIB) Expected to Announce Earnings of $5.95 Per Share

Analysts expect Biogen Inc (NASDAQ:BIIB) to report $5.95 earnings per share (EPS) for the current quarter, according to Zacks. Twenty Seven analysts have issued estimates for Biogen’s earnings, with the highest EPS estimate coming in at $6.40 and the lowest estimate coming in at $5.62. Biogen reported earnings per share of $5.20 in the same quarter last year, which indicates a positive year over year growth rate of 14.4%. The company is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, April 24th.

On average, analysts expect that Biogen will report full-year earnings of $24.81 per share for the current fiscal year, with EPS estimates ranging from $23.39 to $27.89. For the next fiscal year, analysts expect that the business will report earnings of $25.95 per share, with EPS estimates ranging from $18.37 to $32.09. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Biogen.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.44 by ($0.18). The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company earned $5.04 earnings per share.

BIIB has been the subject of a number of recent research reports. Credit Suisse Group upgraded shares of Biogen from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $321.00 to $385.00 in a report on Wednesday, December 20th. Nomura boosted their target price on shares of Biogen from $355.00 to $420.00 and gave the stock a “buy” rating in a report on Saturday, December 30th. Robert W. Baird reiterated a “hold” rating on shares of Biogen in a report on Thursday, January 25th. Citigroup reiterated an “outperform” rating and issued a $380.00 target price (up from $350.00) on shares of Biogen in a report on Tuesday, January 16th. Finally, Canaccord Genuity set a $340.00 target price on shares of Biogen and gave the stock a “hold” rating in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the stock. Biogen currently has an average rating of “Buy” and a consensus target price of $366.49.

In related news, Director Robert W. Pangia sold 5,832 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total value of $1,922,518.80. Following the completion of the transaction, the director now directly owns 23,539 shares of the company’s stock, valued at approximately $7,759,631.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alfred Sandrock sold 259 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $290.83, for a total value of $75,324.97. Following the completion of the transaction, the executive vice president now directly owns 6,553 shares of the company’s stock, valued at $1,905,808.99. The disclosure for this sale can be found here. Insiders have sold a total of 8,128 shares of company stock worth $2,601,512 in the last quarter. Insiders own 0.25% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of BIIB. Captrust Financial Advisors acquired a new position in Biogen in the 4th quarter valued at $113,000. Prentiss Smith & Co. Inc. acquired a new position in Biogen in the 4th quarter valued at $123,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in Biogen by 77.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 174 shares during the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new position in Biogen in the 4th quarter valued at $133,000. Finally, Patten Group Inc. raised its stake in Biogen by 4,308.7% in the 3rd quarter. Patten Group Inc. now owns 20,368 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 19,906 shares during the last quarter. 88.93% of the stock is owned by hedge funds and other institutional investors.

Biogen stock traded down $7.33 during trading hours on Friday, reaching $257.65. The stock had a trading volume of 1,954,005 shares, compared to its average volume of 1,736,119. The company has a market capitalization of $54,509.21, a PE ratio of 11.81, a P/E/G ratio of 1.42 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.07 and a current ratio of 2.34. Biogen has a 52 week low of $244.28 and a 52 week high of $370.57.

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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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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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