Biogen Inc Forecasted to Post Q1 2019 Earnings of $6.80 Per Share (BIIB)

Biogen Inc (NASDAQ:BIIB) – Oppenheimer upped their Q1 2019 earnings per share (EPS) estimates for shares of Biogen in a research report issued to clients and investors on Monday, April 22nd. Oppenheimer analyst J. Olson now anticipates that the biotechnology company will post earnings of $6.80 per share for the quarter, up from their previous forecast of $6.49. Oppenheimer currently has a “Buy” rating and a $290.00 target price on the stock. Oppenheimer also issued estimates for Biogen’s Q2 2019 earnings at $7.23 EPS, Q3 2019 earnings at $7.36 EPS, Q4 2019 earnings at $7.47 EPS, FY2019 earnings at $28.86 EPS, FY2021 earnings at $27.96 EPS, FY2022 earnings at $27.37 EPS and FY2023 earnings at $26.65 EPS.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.88 by $0.10. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.38 billion. Biogen had a net margin of 32.94% and a return on equity of 40.53%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business earned $6.05 EPS.



Several other equities research analysts have also issued reports on BIIB. JPMorgan Chase & Co. restated a “hold” rating on shares of Biogen in a report on Wednesday. Cantor Fitzgerald restated a “hold” rating and issued a $250.00 target price on shares of Biogen in a report on Wednesday, March 27th. Atlantic Securities lowered shares of Biogen from an “overweight” rating to a “neutral” rating in a report on Thursday, March 21st. UBS Group downgraded shares of Biogen from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $395.00 to $242.00 in a research note on Friday, March 22nd. Finally, Mizuho set a $235.00 price target on shares of Biogen and gave the stock a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have issued a buy rating to the company’s stock. Biogen currently has an average rating of “Hold” and an average target price of $288.09.

Biogen stock opened at $224.40 on Wednesday. The stock has a market capitalization of $44.91 billion, a PE ratio of 8.56, a PEG ratio of 0.85 and a beta of 1.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.32 and a quick ratio of 2.04. Biogen has a 12-month low of $216.12 and a 12-month high of $388.67.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in Biogen by 0.4% during the 4th quarter. BlackRock Inc. now owns 16,568,963 shares of the biotechnology company’s stock valued at $4,985,931,000 after purchasing an additional 70,603 shares during the period. Oregon Public Employees Retirement Fund increased its position in Biogen by 27,620.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 14,257,427 shares during the period. Northern Trust Corp increased its position in Biogen by 4.8% during the 4th quarter. Northern Trust Corp now owns 2,907,306 shares of the biotechnology company’s stock valued at $874,867,000 after purchasing an additional 133,137 shares during the period. Geode Capital Management LLC increased its position in Biogen by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 2,713,577 shares of the biotechnology company’s stock valued at $815,190,000 after purchasing an additional 144,464 shares during the period. Finally, Norges Bank bought a new stake in shares of Biogen in the 4th quarter valued at about $644,940,000. 89.19% of the stock is currently owned by institutional investors and hedge funds.

In other Biogen news, Director Alexander J. Denner bought 7,000 shares of the business’s stock in a transaction on Friday, February 1st. The shares were acquired at an average price of $328.45 per share, with a total value of $2,299,150.00. Following the transaction, the director now owns 10,909 shares of the company’s stock, valued at approximately $3,583,061.05. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Pangia sold 6,114 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $328.55, for a total transaction of $2,008,754.70. Following the transaction, the director now directly owns 24,701 shares in the company, valued at approximately $8,115,513.55. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

About Biogen

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

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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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