Biogen Inc (NASDAQ:BIIB) – Research analysts at Oppenheimer boosted their FY2018 earnings per share estimates for shares of Biogen in a research note issued on Monday, October 29th. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will post earnings of $26.09 per share for the year, up from their previous estimate of $26.00. Oppenheimer has a “Buy” rating and a $380.00 price target on the stock. Oppenheimer also issued estimates for Biogen’s FY2020 earnings at $27.57 EPS and FY2021 earnings at $31.07 EPS.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, beating the consensus estimate of $6.78 by $0.62. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the previous year, the business posted $6.31 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year.
Shares of NASDAQ BIIB opened at $300.96 on Tuesday. The company has a quick ratio of 2.46, a current ratio of 2.75 and a debt-to-equity ratio of 0.43. Biogen has a 12 month low of $249.17 and a 12 month high of $388.67. The company has a market cap of $60.48 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86.
Hedge funds and other institutional investors have recently modified their holdings of the stock. LeJeune Puetz Investment Counsel LLC purchased a new stake in Biogen in the 3rd quarter worth $107,000. NEXT Financial Group Inc purchased a new stake in Biogen in the 3rd quarter worth $133,000. Adviser Investments LLC increased its holdings in Biogen by 745.7% in 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 in the last quarter. Oakworth Capital Inc. purchased a new stake in Biogen in the 3rd quarter worth $159,000. Finally, Kaizen Advisory LLC increased its holdings in Biogen by 145.8% in 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 in the last quarter. 87.74% of the stock is owned by institutional investors.
In related news, EVP Michael D. Ehlers sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the executive vice president now owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.
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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