FY2019 EPS Estimates for Biogen Inc. Raised by Leerink Swann (BIIB)
Biogen Inc. (NASDAQ:BIIB) – Research analysts at Leerink Swann lifted their FY2019 earnings estimates for shares of Biogen in a research report issued on Wednesday. Leerink Swann analyst G. Porges now anticipates that the firm will earn $24.54 per share for the year, up from their previous estimate of $24.51. Leerink Swann has a “Hold” rating and a $367.00 price objective on the stock. Leerink Swann also issued estimates for Biogen’s FY2020 earnings at $26.39 EPS.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.69 by $0.52. Biogen had a return on equity of 40.59% and a net margin of 33.97%. 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 prior year, the firm posted $4.22 earnings per share. Biogen’s revenue for the quarter was up 11.7% compared to the same quarter last year.
Several other equities analysts also recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $360.00 target price on shares of Biogen in a research report on Wednesday. Vetr raised shares of Biogen from a “hold” rating to a “buy” rating and set a $321.54 target price on the stock in a research report on Monday, October 10th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $386.00 target price on shares of Biogen in a research report on Friday, October 7th. Jefferies Group lowered their target price on shares of Biogen from $323.00 to $316.00 and set a “hold” rating on the stock in a research report on Wednesday, October 5th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $304.00 target price on shares of Biogen in a research report on Tuesday, October 4th. Ten analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $347.34.
Biogen (NASDAQ:BIIB) opened at 290.50 on Friday. The company has a market capitalization of $63.65 billion, a price-to-earnings ratio of 16.97 and a beta of 0.95. The stock’s 50 day moving average price is $305.97 and its 200 day moving average price is $280.96. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65.
In other Biogen news, EVP Adriana Karaboutis sold 262 shares of Biogen stock in a transaction on Tuesday, October 4th. The shares were 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 owns 7,579 shares of the company’s stock, valued at approximately $2,364,193.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Caroline Dorsa sold 27,570 shares of Biogen stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the sale, the director now directly owns 19,663 shares of the company’s stock, valued at approximately $6,174,182. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Strs Ohio raised its position in shares of Biogen by 10.6% in the second quarter. Strs Ohio now owns 303,272 shares of the biotechnology company’s stock valued at $73,337,000 after buying an additional 29,114 shares during the period. Boston Advisors LLC raised its position in shares of Biogen by 2,223.4% in the second quarter. Boston Advisors LLC now owns 127,347 shares of the biotechnology company’s stock valued at $30,795,000 after buying an additional 121,866 shares during the period. Artemis Investment Management LLP raised its position in shares of Biogen by 203.9% in the second quarter. Artemis Investment Management LLP now owns 55,166 shares of the biotechnology company’s stock valued at $13,342,000 after buying an additional 37,015 shares during the period. Nuveen Asset Management LLC raised its position in shares of Biogen by 101.9% in the first quarter. Nuveen Asset Management LLC now owns 101,785 shares of the biotechnology company’s stock valued at $26,497,000 after buying an additional 51,375 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Biogen during the first quarter valued at about $33,233,000. 86.21% of the stock is owned by hedge funds and other institutional investors.
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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