Biogen Inc (NASDAQ:BIIB) – Equities research analysts at Oppenheimer lifted their Q1 2018 EPS estimates for Biogen in a research note issued to investors on Monday. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will post earnings of $5.62 per share for the quarter, up from their prior estimate of $5.59. Oppenheimer has a “Buy” rating and a $380.00 price target on the stock. Oppenheimer also issued estimates for Biogen’s Q3 2018 earnings at $6.21 EPS and FY2018 earnings at $24.32 EPS.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.19 EPS.
Shares of Biogen (NASDAQ:BIIB) traded up $6.02 during mid-day trading on Wednesday, reaching $344.87. 1,428,900 shares of the company traded hands, compared to its average volume of 1,209,927. The stock has a market capitalization of $71,630.00, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 1.92 and a beta of 0.73. 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 has a 12 month low of $244.28 and a 12 month high of $348.84.
Several hedge funds have recently modified their holdings of the company. Forbes J M & Co. LLP lifted its holdings in shares of Biogen by 0.6% in the 2nd quarter. Forbes J M & Co. LLP now owns 3,121 shares of the biotechnology company’s stock worth $846,000 after acquiring an additional 19 shares during the last quarter. People s United Financial Inc. lifted its holdings in shares of Biogen by 1.1% in the 2nd quarter. People s United Financial Inc. now owns 2,269 shares of the biotechnology company’s stock worth $616,000 after acquiring an additional 25 shares during the last quarter. Linscomb & Williams Inc. lifted its holdings in shares of Biogen by 2.5% in the 2nd quarter. Linscomb & Williams Inc. now owns 1,204 shares of the biotechnology company’s stock worth $327,000 after acquiring an additional 29 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in shares of Biogen by 1.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,995 shares of the biotechnology company’s stock worth $816,000 after acquiring an additional 36 shares during the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Biogen by 1.1% in the 2nd quarter. MML Investors Services LLC now owns 3,780 shares of the biotechnology company’s stock worth $1,026,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.
In other news, Director Robert W. Pangia sold 5,832 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total value of $1,922,518.80. Following the transaction, the director now directly owns 23,539 shares in the company, valued at approximately $7,759,631.35. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michel Vounatsos acquired 780 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was bought at an average price of $320.55 per share, for a total transaction of $250,029.00. The disclosure for this purchase can be found here. Insiders acquired a total of 31,560 shares of company stock worth $10,020,858 over the last quarter. 0.25% of the stock is currently owned by company insiders.
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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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