Biogen Inc. (NASDAQ:BIIB) - Investment analysts at William Blair increased their Q3 2018 earnings per share estimates for Biogen in a report released on Tuesday. William Blair analyst M. Phipps now expects that the biotechnology company will earn $6.17 per share for the quarter, up from their previous estimate of $5.78. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Biogen’s Q4 2018 earnings at $6.20 EPS.
A number of other brokerages have also commented on BIIB. BMO Capital Markets reiterated a “market perform” rating and set a $328.00 price target (up from $317.00) on shares of Biogen in a report on Wednesday. Vetr lowered Biogen from a “buy” rating to a “hold” rating and set a $298.30 price target on the stock. in a report on Wednesday. Cowen and Company reiterated a “buy” rating on shares of Biogen in a report on Thursday. Stifel Nicolaus lifted their price target on Biogen from $265.00 to $280.00 and gave the stock a “hold” rating in a report on Wednesday, April 26th. Finally, UBS AG reiterated a “neutral” rating and set a $285.00 price target (up from $270.00) on shares of Biogen in a report on Wednesday. Fourteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Biogen has a consensus rating of “Buy” and a consensus price target of $328.89.
TRADEMARK VIOLATION WARNING: This news story was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://stocknewstimes.com/2017/07/28/william-blair-weighs-in-on-biogen-inc-s-q3-2018-earnings-biib.html.
Shares of Biogen (NASDAQ:BIIB) traded down 0.18% during midday trading on Thursday, hitting $287.44. The stock had a trading volume of 869,157 shares. The company’s 50 day moving average is $273.55 and its 200 day moving average is $273.76. The firm has a market cap of $60.97 billion, a P/E ratio of 18.00 and a beta of 0.78. Biogen has a 52 week low of $244.28 and a 52 week high of $307.76.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the business posted $5.21 EPS. The business’s revenue was up 6.4% compared to the same quarter last year.
In other news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the transaction, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now owns 27,232 shares of the company’s stock, valued at $7,761,120. The disclosure for this sale can be found here. Insiders sold a total of 13,816 shares of company stock valued at $3,931,380 over the last quarter. Company insiders own 0.32% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Essex Investment Management Co. LLC boosted its position in Biogen by 14.9% in the second quarter. Essex Investment Management Co. LLC now owns 28,442 shares of the biotechnology company’s stock worth $7,718,000 after buying an additional 3,679 shares during the last quarter. Ingalls & Snyder LLC boosted its position in Biogen by 2.2% in the second quarter. Ingalls & Snyder LLC now owns 6,174 shares of the biotechnology company’s stock worth $1,675,000 after buying an additional 133 shares during the last quarter. Busey Trust CO boosted its position in Biogen by 2.8% in the second quarter. Busey Trust CO now owns 15,825 shares of the biotechnology company’s stock worth $4,295,000 after buying an additional 436 shares during the last quarter. Supplemental Annuity Collective Trust of NJ boosted its position in Biogen by 3.4% in the second quarter. Supplemental Annuity Collective Trust of NJ now owns 4,000 shares of the biotechnology company’s stock worth $1,085,000 after buying an additional 131 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in Biogen by 13.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 258,485 shares of the biotechnology company’s stock worth $70,143,000 after buying an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 87.50% 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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
