Biogen Inc (NASDAQ:BIIB) – Stock analysts at Oppenheimer increased their Q4 2018 earnings per share estimates for Biogen in a research note issued to investors on Tuesday. Oppenheimer analyst J. Olson now expects that the biotechnology company will post earnings per share of $6.41 for the quarter, up from their previous forecast of $5.74. Oppenheimer currently has a “Buy” rating and a $380.00 target price on the stock. Oppenheimer also issued estimates for Biogen’s Q1 2019 earnings at $6.30 EPS, Q2 2019 earnings at $6.71 EPS, Q3 2019 earnings at $6.92 EPS and Q4 2019 earnings at $6.93 EPS.
Other analysts have also issued research reports about the company. Guggenheim initiated coverage on Biogen in a report on Monday, October 23rd. They set a “buy” rating and a $402.00 price target on the stock. Bank of America increased their price target on Biogen from $358.00 to $365.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Morgan Stanley restated a “buy” rating on shares of Biogen in a report on Tuesday, October 17th. Mizuho upgraded Biogen from a “neutral” rating to a “buy” rating and increased their price target for the company from $319.00 to $400.00 in a report on Tuesday, October 17th. Finally, Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and increased their price target for the company from $300.00 to $415.00 in a report on Tuesday, October 17th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $353.75.
Shares of Biogen (BIIB) opened at $342.41 on Friday. Biogen has a twelve month low of $244.28 and a twelve month high of $348.84. The stock has a market capitalization of $72,411.84, a P/E ratio of 15.86, a PEG ratio of 1.94 and a beta of 0.72. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.70 by $0.61. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.19 EPS.
A number of hedge funds have recently added to or reduced their stakes in the business. Atlantic Trust LLC bought a new position in shares of Biogen during the 2nd quarter worth $114,000. Horan Capital Advisors LLC. bought a new position in shares of Biogen during the 3rd quarter worth $128,000. Massey Quick Simon & CO. LLC grew its position in shares of Biogen by 84.8% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after buying an additional 195 shares in the last quarter. Gs Investments Inc. bought a new position in shares of Biogen during the 2nd quarter worth $136,000. Finally, Patten Group Inc. grew its position in shares of Biogen by 4,308.7% during the 3rd quarter. Patten Group Inc. now owns 20,368 shares of the biotechnology company’s stock worth $145,000 after buying an additional 19,906 shares in the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.
In other Biogen news, Director Robert W. Pangia sold 5,832 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total value of $1,922,518.80. Following the sale, the director now owns 23,539 shares in the company, valued at $7,759,631.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Alexander J. Denner bought 30,000 shares of Biogen stock in a transaction on Wednesday, November 29th. The stock was acquired at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 31,560 shares of company stock worth $10,020,858. Insiders own 0.25% of the company’s stock.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.