FY2017 EPS Estimates for Biogen Inc. Decreased by Jefferies Group (BIIB)
Biogen Inc. (NASDAQ:BIIB) – Investment analysts at Jefferies Group reduced their FY2017 EPS estimates for shares of Biogen in a note issued to investors on Wednesday. Jefferies Group analyst B. Abrahams now anticipates that the brokerage will earn $18.76 per share for the year, down from their prior estimate of $19.18. Jefferies Group has a “Hold” rating and a $316.00 price target on the stock. Jefferies Group also issued estimates for Biogen’s FY2018 earnings at $19.94 EPS, FY2019 earnings at $21.09 EPS and FY2020 earnings at $22.84 EPS.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.52. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The firm earned $2.89 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the company posted $4.22 EPS. Biogen’s revenue was up 11.7% on a year-over-year basis.
A number of other research analysts have also commented on the stock. Morgan Stanley reiterated a “buy” rating on shares of Biogen in a research note on Thursday, June 30th. Sanford C. Bernstein assumed coverage on shares of Biogen in a research note on Wednesday, June 29th. They issued an “outperform” rating and a $282.00 price target on the stock. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 target price on the stock in a research report on Monday, September 12th. Piper Jaffray Cos. restated a “neutral” rating and set a $333.00 target price (up previously from $293.00) on shares of Biogen in a research report on Tuesday, August 16th. Finally, Zacks Investment Research upgraded shares of Biogen from a “hold” rating to a “buy” rating and set a $321.00 target price on the stock in a research report on Wednesday, July 27th. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $347.34.
Biogen (NASDAQ:BIIB) traded down 0.63% on Friday, reaching $304.05. 765,712 shares of the company traded hands. Biogen has a 52-week low of $223.02 and a 52-week high of $333.65. The stock has a 50-day moving average of $308.72 and a 200 day moving average of $279.34. The company has a market capitalization of $66.62 billion, a PE ratio of 17.76 and a beta of 0.95.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio boosted its position in shares of Biogen by 10.6% in the second quarter. Strs Ohio now owns 303,272 shares of the biotechnology company’s stock worth $73,337,000 after buying an additional 29,114 shares in the last quarter. Boston Advisors LLC boosted its position in shares of Biogen by 2,223.4% in the second quarter. Boston Advisors LLC now owns 127,347 shares of the biotechnology company’s stock worth $30,795,000 after buying an additional 121,866 shares in the last quarter. Artemis Investment Management LLP boosted its position in shares of Biogen by 203.9% in the second quarter. Artemis Investment Management LLP now owns 55,166 shares of the biotechnology company’s stock worth $13,342,000 after buying an additional 37,015 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Biogen by 101.9% in the first quarter. Nuveen Asset Management LLC now owns 101,785 shares of the biotechnology company’s stock worth $26,497,000 after buying an additional 51,375 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Biogen during the first quarter worth about $33,233,000. Hedge funds and other institutional investors own 86.21% of the company’s stock.
In other news, CEO George A. Scangos sold 157 shares of Biogen stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $280.00, for a total transaction of $43,960.00. Following the completion of the transaction, the chief executive officer now directly owns 54,779 shares in the company, valued at $15,338,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Caroline Dorsa sold 27,570 shares of Biogen stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the transaction, the director now owns 19,663 shares of the company’s stock, valued at $6,174,182. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
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