Biogen Inc. (BIIB) to Post FY2017 Earnings of $20.96 Per Share, Leerink Swann Forecasts
Biogen Inc. (NASDAQ:BIIB) – Investment analysts at Leerink Swann lowered their FY2017 EPS estimates for Biogen in a research note issued on Wednesday. Leerink Swann analyst G. Porges now forecasts that the brokerage will earn $20.96 per share for the year, down from their previous forecast of $21.04. Leerink Swann has a “Hold” rating and a $367.00 price target on the stock. Leerink Swann also issued estimates for Biogen’s FY2018 earnings at $23.02 EPS.
A number of other brokerages also recently issued reports on BIIB. Vetr downgraded Biogen from a “hold” rating to a “sell” rating and set a $299.76 price target for the company. in a research report on Tuesday, August 2nd. Credit Suisse Group AG restated a “hold” rating and issued a $322.00 price target on shares of Biogen in a research report on Wednesday, August 3rd. Piper Jaffray Cos. restated a “neutral” rating on shares of Biogen in a research report on Wednesday, August 3rd. Morgan Stanley restated a “buy” rating and issued a $385.00 price target on shares of Biogen in a research report on Wednesday, August 3rd. Finally, Jefferies Group restated a “buy” rating and issued a $319.00 price target on shares of Biogen in a research report on Thursday, August 4th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $347.34.
Shares of Biogen (NASDAQ:BIIB) traded down 1.33% during trading on Thursday, reaching $290.50. 1,135,642 shares of the company were exchanged. The firm has a market capitalization of $63.65 billion, a P/E ratio of 16.97 and a beta of 0.95. The firm’s 50 day moving average is $306.44 and its 200 day moving average is $280.68. Biogen has a 1-year low of $223.02 and a 1-year high of $333.65.
Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, beating the Zacks’ consensus estimate of $4.69 by $0.52. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the business posted $4.22 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis.
In related news, EVP Adriana Karaboutis sold 262 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $311.94, for a total transaction of $81,728.28. Following the completion of the sale, the executive vice president now directly owns 7,579 shares in the company, valued at $2,364,193.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total value of $8,656,980.00. Following the sale, the director now owns 19,663 shares of the company’s stock, valued at $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Kings Point Capital Management purchased a new stake in shares of Biogen during the second quarter valued at approximately $145,000. Canandaigua National Bank & Trust Co. purchased a new stake in shares of Biogen during the third quarter valued at approximately $203,000. Cohen Capital Management Inc. purchased a new stake in shares of Biogen during the third quarter valued at approximately $203,000. North Star Asset Management Inc. purchased a new stake in shares of Biogen during the third quarter valued at approximately $207,000. Finally, Catawba Capital Management VA purchased a new stake in shares of Biogen during the third quarter valued at approximately $216,000. Hedge funds and other institutional investors own 86.21% of the company’s stock.
Biogen Company Profile
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
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