Biogen Inc (NASDAQ:BIIB) – Analysts at Jefferies Financial Group issued their Q1 2019 earnings estimates for shares of Biogen in a research report issued on Monday, October 8th. Jefferies Financial Group analyst M. Yee anticipates that the biotechnology company will post earnings per share of $6.92 for the quarter. Jefferies Financial Group has a “Hold” rating and a $400.00 price target on the stock. Jefferies Financial Group also issued estimates for Biogen’s Q3 2019 earnings at $6.97 EPS, Q4 2019 earnings at $6.71 EPS, FY2019 earnings at $26.71 EPS and FY2020 earnings at $26.66 EPS.
Several other research analysts also recently issued reports on the stock. Citigroup dropped their target price on shares of Biogen from $483.00 to $470.00 and set a “buy” rating on the stock in a research note on Monday. Raymond James reiterated a “buy” rating on shares of Biogen in a research note on Wednesday, October 3rd. BidaskClub downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of Biogen in a research note on Monday, October 1st. Finally, Oppenheimer set a $400.00 target price on shares of Biogen and gave the stock a “buy” rating in a research note on Sunday, September 16th. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $381.31.
Shares of NASDAQ BIIB opened at $344.57 on Wednesday. The company has a market capitalization of $71.17 billion, a PE ratio of 15.80, a PEG ratio of 1.36 and a beta of 0.86. Biogen has a 52-week low of $249.17 and a 52-week high of $388.67. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.06 and a current ratio of 2.36.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.22 by $0.58. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.25 billion. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.04 earnings per share.
Hedge funds have recently made changes to their positions in the business. Rainier Group Investment Advisory LLC purchased a new stake in Biogen during the first quarter valued at approximately $100,000. Point72 Asia Hong Kong Ltd purchased a new stake in Biogen during the first quarter valued at approximately $105,000. McKinley Carter Wealth Services Inc. purchased a new stake in Biogen during the first quarter valued at approximately $110,000. Adviser Investments LLC increased its holdings in Biogen by 745.7% during the second quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 343 shares during the last quarter. Finally, NEXT Financial Group Inc purchased a new stake in Biogen during the third quarter valued at approximately $133,000. 87.46% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Michael D. Ehlers sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president now owns 4,281 shares in the company, valued at $1,498,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.
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.
See Also: What is a Fiduciary?