Biogen (NASDAQ:BIIB) – Equities researchers at Piper Jaffray boosted their Q1 2018 earnings per share (EPS) estimates for Biogen in a research note issued on Friday, April 13th. Piper Jaffray analyst C. Raymond now anticipates that the biotechnology company will post earnings of $6.00 per share for the quarter, up from their prior estimate of $5.85. Piper Jaffray has a “Buy” rating on the stock. Piper Jaffray also issued estimates for Biogen’s Q3 2018 earnings at $6.39 EPS and FY2018 earnings at $24.75 EPS.
Several other equities research analysts have also recently issued reports on the stock. Nomura raised their target price on shares of Biogen from $355.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Credit Suisse Group upgraded shares of Biogen from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $321.00 to $385.00 in a report on Wednesday, December 20th. Mizuho set a $400.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Thursday, January 18th. UBS upgraded shares of Biogen from a “neutral” rating to a “buy” rating and raised their target price for the stock from $352.59 to $410.00 in a report on Wednesday, January 31st. Finally, Argus cut shares of Biogen from a “buy” rating to a “hold” rating in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $366.49.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business earned $5.04 EPS. Biogen’s revenue was up 15.1% on a year-over-year basis.
In related news, EVP Alfred Sandrock sold 1,294 shares of Biogen stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $298.85, for a total transaction of $386,711.90. Following the transaction, the executive vice president now owns 7,296 shares in the company, valued at approximately $2,180,409.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 2,296 shares of company stock worth $678,993. 0.25% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its stake in shares of Biogen by 27.0% during the 4th quarter. Alliancebernstein L.P. now owns 3,414,672 shares of the biotechnology company’s stock valued at $1,087,812,000 after buying an additional 727,007 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Biogen by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,443,559 shares of the biotechnology company’s stock valued at $776,943,000 after buying an additional 24,753 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Biogen by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,390,527 shares of the biotechnology company’s stock valued at $761,552,000 after buying an additional 64,540 shares in the last quarter. Franklin Resources Inc. increased its holdings in Biogen by 3.3% in the 4th quarter. Franklin Resources Inc. now owns 1,438,020 shares of the biotechnology company’s stock valued at $458,114,000 after acquiring an additional 45,975 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Biogen by 10.5% in the 4th quarter. American Century Companies Inc. now owns 1,001,387 shares of the biotechnology company’s stock valued at $319,012,000 after acquiring an additional 95,432 shares during the last quarter. Institutional investors own 88.93% of the company’s stock.
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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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