Biogen Inc (NASDAQ:BIIB) – Equities researchers at Jefferies Financial Group raised their FY2018 earnings per share estimates for shares of Biogen in a research report issued on Tuesday, October 23rd. Jefferies Financial Group analyst M. Yee now forecasts that the biotechnology company will post earnings of $25.61 per share for the year, up from their prior estimate of $25.57. Jefferies Financial Group currently has a “Hold” rating and a $400.00 price target on the stock.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.78 by $0.62. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the business posted $6.31 EPS. The business’s revenue was up 11.7% compared to the same quarter last year.
NASDAQ BIIB opened at $300.17 on Friday. Biogen has a 1 year low of $249.17 and a 1 year high of $388.67. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.36 and a quick ratio of 2.06. The firm has a market capitalization of $63.56 billion, a PE ratio of 13.76, a PEG ratio of 1.22 and a beta of 0.86.
In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the company’s stock in a transaction dated 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 $1,498,350. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rainier Group Investment Advisory LLC purchased a new stake in Biogen during the first quarter valued at about $100,000. Adviser Investments LLC lifted its holdings in shares of Biogen by 745.7% in the second quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after buying an additional 343 shares in the last quarter. NEXT Financial Group Inc purchased a new stake in shares of Biogen in the third quarter worth about $133,000. Kaizen Advisory LLC lifted its holdings in shares of Biogen by 145.8% in the second quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock worth $145,000 after buying an additional 296 shares in the last quarter. Finally, Gs Investments Inc. purchased a new stake in shares of Biogen in the second quarter worth about $145,000. 87.49% of the stock is currently owned by institutional investors and hedge funds.
Biogen Company Profile
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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