Biogen Inc. (NASDAQ:BIIB) – Analysts at Oppenheimer Holdings issued their FY2017 earnings estimates for shares of Biogen in a note issued to investors on Wednesday. Oppenheimer Holdings analyst J. Olson expects that the biotechnology company will earn $21.97 per share for the year. Oppenheimer Holdings has a “Outperform” rating and a $350.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Biogen’s Q4 2017 earnings at $5.42 EPS, FY2018 earnings at $23.53 EPS, FY2019 earnings at $24.68 EPS and FY2020 earnings at $26.35 EPS.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the firm earned $5.19 earnings per share. Biogen’s quarterly revenue was up 4.1% on a year-over-year basis.
BIIB has been the topic of a number of other reports. Citigroup Inc. cut Biogen from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price target on the stock. in a research note on Wednesday, August 23rd. Stifel Nicolaus restated a “hold” rating and issued a $300.00 price target on shares of Biogen in a research note on Thursday, October 12th. Robert W. Baird restated a “hold” rating and issued a $290.00 price target on shares of Biogen in a research note on Friday, August 25th. Finally, Morgan Stanley restated a “buy” rating on shares of Biogen in a research note on Tuesday, October 17th. Twelve analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $341.89.
Shares of Biogen (NASDAQ:BIIB) opened at $309.69 on Monday. Biogen has a 52 week low of $244.28 and a 52 week high of $348.84. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $66,765.37, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.97 and a beta of 0.72.
Several hedge funds have recently bought and sold shares of BIIB. Assenagon Asset Management S.A. acquired a new position in shares of Biogen during the 3rd quarter worth approximately $123,494,000. Botty Investors LLC raised its position in shares of Biogen by 75.0% during the 2nd quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock worth $3,048,000 after purchasing an additional 4,812 shares during the last quarter. BB&T Securities LLC raised its position in shares of Biogen by 25.0% during the 2nd quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock worth $3,524,000 after purchasing an additional 2,598 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Biogen by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after purchasing an additional 342,568 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of Biogen by 18.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock worth $7,591,000 after purchasing an additional 4,389 shares during the last quarter. Institutional investors own 88.35% of the company’s stock.
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).
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