Zacks: Brokerages Anticipate Biogen Inc (BIIB) to Announce $5.96 EPS

Brokerages predict that Biogen Inc (NASDAQ:BIIB) will report $5.96 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Thirty analysts have issued estimates for Biogen’s earnings. The highest EPS estimate is $6.40 and the lowest is $5.64. Biogen posted earnings per share of $5.20 in the same quarter last year, which would suggest a positive year over year growth rate of 14.6%. The business is expected to announce its next earnings report before the market opens on Tuesday, April 24th.

On average, analysts expect that Biogen will report full-year earnings of $24.86 per share for the current year, with EPS estimates ranging from $23.47 to $27.89. For the next fiscal year, analysts anticipate that the company will post earnings of $26.21 per share, with EPS estimates ranging from $22.73 to $32.09. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Biogen.

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



A number of analysts have recently issued reports on the company. Mizuho set a $433.00 price target on Biogen and gave the company a “buy” rating in a research report on Wednesday. Sanford C. Bernstein set a $318.00 price target on Biogen and gave the company a “buy” rating in a research report on Tuesday. Canaccord Genuity set a $350.00 price target on Biogen and gave the company a “hold” rating in a research report on Monday. Barclays downgraded Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $395.00 to $295.00 in a research report on Thursday, April 5th. Finally, Credit Suisse Group restated a “buy” rating and issued a $384.00 target price on shares of Biogen in a research report on Monday, March 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $366.49.

In other Biogen news, EVP Alfred Sandrock sold 259 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total value of $75,324.97. Following the completion of the sale, the executive vice president now owns 6,553 shares in the company, valued at $1,905,808.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 2,296 shares of company stock valued at $678,993 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. SeaCrest Wealth Management LLC bought a new stake in Biogen in the fourth quarter valued at approximately $504,000. Cubist Systematic Strategies LLC lifted its position in Biogen by 151.3% in the third quarter. Cubist Systematic Strategies LLC now owns 10,646 shares of the biotechnology company’s stock valued at $3,333,000 after purchasing an additional 6,409 shares during the last quarter. CHICAGO TRUST Co NA bought a new stake in Biogen in the fourth quarter valued at approximately $740,000. Beech Hill Advisors Inc. lifted its position in Biogen by 35.2% in the fourth quarter. Beech Hill Advisors Inc. now owns 1,987 shares of the biotechnology company’s stock valued at $633,000 after purchasing an additional 517 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of Biogen during the fourth quarter valued at approximately $261,000. Hedge funds and other institutional investors own 88.93% of the company’s stock.

Shares of BIIB opened at $268.76 on Friday. The stock has a market cap of $56,273.56, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. Biogen has a 12-month low of $244.28 and a 12-month 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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