Biogen Inc (NASDAQ:BIIB) – Stock analysts at Oppenheimer raised their Q4 2018 EPS estimates for shares of Biogen in a report issued on Monday, October 29th. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will earn $6.88 per share for the quarter, up from their previous estimate of $6.79. Oppenheimer currently has a “Buy” rating and a $380.00 price target on the stock.
Several other equities analysts also recently commented on BIIB. BidaskClub downgraded shares of Biogen from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine downgraded shares of Biogen from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Canaccord Genuity set a $335.00 price objective on shares of Biogen and gave the company a “buy” rating in a report on Friday, July 6th. HC Wainwright reiterated a “buy” rating on shares of Biogen in a report on Monday, July 9th. Finally, Nomura reiterated a “buy” rating and issued a $420.00 price objective on shares of Biogen in a report on Friday, July 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $383.01.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the company earned $6.31 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis.
In related 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 completion of the sale, the executive vice president now owns 4,281 shares of the company’s stock, valued at $1,498,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. LeJeune Puetz Investment Counsel LLC bought a new stake in Biogen during the third quarter worth about $107,000. NEXT Financial Group Inc bought a new stake in Biogen during the third quarter worth about $133,000. Harvest Fund Management Co. Ltd lifted its position in Biogen by 122.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 384 shares of the biotechnology company’s stock worth $136,000 after purchasing an additional 211 shares during the period. Adviser Investments LLC lifted its position in Biogen by 745.7% during the second quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 343 shares during the period. Finally, Oakworth Capital Inc. bought a new stake in Biogen during the third quarter worth about $159,000. 87.74% of the stock is owned by institutional investors and hedge funds.
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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