Biogen Inc (NASDAQ:BIIB) – Analysts at Cantor Fitzgerald raised their FY2018 earnings per share (EPS) estimates for shares of Biogen in a research report issued on Wednesday, October 24th. Cantor Fitzgerald analyst A. Young now forecasts that the biotechnology company will earn $25.93 per share for the year, up from their prior estimate of $25.51. Cantor Fitzgerald has a “Overweight” rating and a $400.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Biogen’s FY2019 earnings at $28.42 EPS.
Other equities analysts have also recently issued reports about the stock. Mizuho set a $423.00 target price on shares of Biogen and gave the company a “buy” rating in a research report on Friday, June 29th. BidaskClub cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 29th. UBS Group boosted their target price on shares of Biogen from $354.00 to $395.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Citigroup boosted their target price on shares of Biogen to $483.00 and gave the company a “positive” rating in a research report on Thursday, July 26th. Finally, Raymond James restated a “buy” rating on shares of Biogen in a research report on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $383.78.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, beating the consensus estimate of $6.78 by $0.62. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $6.31 EPS.
In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Rainier Group Investment Advisory LLC bought a new stake in Biogen during the 1st quarter worth approximately $100,000. NEXT Financial Group Inc bought a new stake in Biogen during the 3rd quarter worth approximately $133,000. Adviser Investments LLC grew its holdings in Biogen by 745.7% during the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 343 shares during the last quarter. Oakworth Capital Inc. bought a new stake in Biogen during the 3rd quarter worth approximately $159,000. Finally, Kaizen Advisory LLC grew its holdings in Biogen by 145.8% during the 2nd quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 296 shares during the last quarter. 87.49% of the stock is currently owned by hedge funds and other institutional investors.
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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