Biogen Inc (NASDAQ:BIIB) – Equities researchers at William Blair decreased their Q1 2018 earnings estimates for shares of Biogen in a research report issued to clients and investors on Friday. William Blair analyst M. Phipps now anticipates that the biotechnology company will earn $6.03 per share for the quarter, down from their previous forecast of $6.04. William Blair has a “Buy” rating on the stock. William Blair also issued estimates for Biogen’s Q4 2018 earnings at $5.99 EPS and Q1 2019 earnings at $6.28 EPS.
Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the company posted $5.04 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis.
A number of other research analysts also recently issued reports on the stock. Piper Jaffray Companies restated a “buy” rating and set a $390.00 target price on shares of Biogen in a research report on Monday, December 18th. Nomura upped their target price on shares of Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Royal Bank of Canada restated a “hold” rating and set a $321.00 target price on shares of Biogen in a research report on Tuesday, December 5th. Credit Suisse Group upgraded shares of Biogen from a “neutral” rating to an “outperform” rating and upped their target price for the company from $321.00 to $385.00 in a research report on Wednesday, December 20th. Finally, Mizuho set a $400.00 target price on shares of Biogen and gave the company a “buy” rating in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $370.07.
Biogen (NASDAQ BIIB) opened at $285.98 on Monday. The company has a current ratio of 2.34, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47. Biogen has a 52-week low of $244.28 and a 52-week high of $370.57. The stock has a market cap of $60,707.92, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90.
Several institutional investors and hedge funds have recently modified their holdings of BIIB. Victory Capital Management Inc. grew its stake in shares of Biogen by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 8,433 shares of the biotechnology company’s stock worth $2,641,000 after acquiring an additional 570 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Biogen during the 3rd quarter worth approximately $203,000. Meridian Wealth Management LLC bought a new position in shares of Biogen during the 3rd quarter worth approximately $1,685,000. Country Trust Bank grew its stake in shares of Biogen by 12.7% during the 3rd quarter. Country Trust Bank now owns 105,610 shares of the biotechnology company’s stock worth $33,069,000 after acquiring an additional 11,934 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its stake in shares of Biogen by 23.6% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 599,956 shares of the biotechnology company’s stock worth $187,858,000 after acquiring an additional 114,455 shares in the last quarter. 87.93% of the stock is owned by institutional investors.
In related news, CEO Michel Vounatsos bought 780 shares of the company’s stock in a transaction on Friday, December 29th. The shares were purchased at an average cost of $320.55 per share, for a total transaction of $250,029.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Alfred Sandrock sold 259 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total transaction of $75,324.97. Following the sale, the executive vice president now owns 6,553 shares in the company, valued at $1,905,808.99. The disclosure for this sale can be found here. Insiders have sold a total of 8,128 shares of company stock worth $2,601,512 over the last 90 days. Corporate insiders own 0.25% 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).