Biogen (BIIB) Expected to Announce Earnings of $5.24 Per Share

Equities research analysts expect Biogen (NASDAQ:BIIB) to report earnings of $5.24 per share for the current quarter, according to Zacks. Twenty Nine analysts have made estimates for Biogen’s earnings. The lowest EPS estimate is $4.02 and the highest is $6.47. Biogen reported earnings per share of $5.04 in the same quarter last year, which would indicate a positive year over year growth rate of 4%. The company is scheduled to report its next quarterly earnings results on Tuesday, July 24th.

On average, analysts expect that Biogen will report full-year earnings of $23.90 per share for the current fiscal year, with EPS estimates ranging from $22.89 to $25.01. For the next financial year, analysts expect that the firm will post earnings of $26.15 per share, with EPS estimates ranging from $23.84 to $28.10. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Biogen.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, April 24th. The biotechnology company reported $6.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.93 by $0.12. The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.15 billion. Biogen had a net margin of 23.54% and a return on equity of 37.64%. Biogen’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.20 earnings per share.



BIIB has been the subject of a number of research analyst reports. Citigroup restated an “outperform” rating and set a $380.00 price objective (up previously from $350.00) on shares of Biogen in a report on Tuesday, January 16th. Canaccord Genuity set a $350.00 price objective on shares of Biogen and gave the stock a “hold” rating in a report on Tuesday, January 16th. Mizuho set a $400.00 price objective on shares of Biogen and gave the stock a “buy” rating in a report on Thursday, January 18th. Barclays reiterated a “buy” rating and issued a $395.00 target price on shares of Biogen in a research note on Sunday, January 21st. Finally, Goldman Sachs set a $390.00 target price on shares of Biogen and gave the stock a “buy” rating in a research note on Thursday, January 25th. Eleven equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $353.71.

Shares of Biogen traded up $3.61, reaching $279.67, during trading hours on Friday, according to MarketBeat. 14,935 shares of the stock traded hands, compared to its average volume of 1,732,104. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.23 and a quick ratio of 2.95. Biogen has a 52 week low of $276.94 and a 52 week high of $279.86. The firm has a market capitalization of $59.58 billion, a P/E ratio of 12.66, a PEG ratio of 1.65 and a beta of 0.84.

In related news, Director Alexander J. Denner bought 48,000 shares of the stock in a transaction on Wednesday, April 25th. The shares were acquired at an average price of $269.91 per share, for a total transaction of $12,955,680.00. Following the purchase, the director now owns 10,029 shares of the company’s stock, valued at $2,706,927.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Alfred Sandrock sold 1,294 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $298.85, for a total transaction of $386,711.90. Following the transaction, the executive vice president now owns 7,296 shares in the company, valued at approximately $2,180,409.60. The disclosure for this sale can be found here. Insiders have sold a total of 2,296 shares of company stock worth $678,993 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Several large investors have recently modified their holdings of the company. Rainier Group Investment Advisory LLC purchased a new stake in Biogen during the 1st quarter valued at approximately $100,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of Biogen during the first quarter worth $105,000. Certified Advisory Corp lifted its position in shares of Biogen by 445.2% during the first quarter. Certified Advisory Corp now owns 398 shares of the biotechnology company’s stock worth $108,000 after purchasing an additional 325 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Biogen during the fourth quarter worth $113,000. Finally, Prentiss Smith & Co. Inc. bought a new stake in shares of Biogen during the fourth quarter worth $123,000. Hedge funds and other institutional investors own 89.74% of the company’s stock.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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