Q3 2016 EPS Estimates for Biogen Inc. (BIIB) Cut by Leerink Swann
Biogen Inc. (NASDAQ:BIIB) – Analysts at Leerink Swann lowered their Q3 2016 earnings estimates for shares of Biogen in a research report issued to clients and investors on Friday. Leerink Swann analyst G. Porges now anticipates that the firm will earn $4.82 per share for the quarter, down from their previous forecast of $5.17. Leerink Swann currently has a “Hold” rating and a $367.00 target price on the stock. Leerink Swann also issued estimates for Biogen’s Q4 2016 earnings at $5.00 EPS, FY2016 earnings at $19.80 EPS, FY2017 earnings at $21.04 EPS, FY2018 earnings at $23.28 EPS, FY2019 earnings at $24.51 EPS and FY2020 earnings at $26.25 EPS.
A number of other research analysts have also issued reports 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 set 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 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. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $347.34.
Shares of Biogen (NASDAQ:BIIB) opened at 298.30 on Monday. The stock’s 50 day moving average is $307.62 and its 200-day moving average is $280.51. Biogen has a one year low of $223.02 and a one year high of $333.65. The firm has a market cap of $65.36 billion, a P/E ratio of 17.43 and a beta of 0.95.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.69 by $0.52. The business earned $2.89 billion during the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.22 EPS.
In related news, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 54,779 shares of the company’s stock, valued at approximately $15,338,120. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Adriana Karaboutis sold 380 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $313.00, for a total transaction of $118,940.00. Following the sale, the executive vice president now directly owns 7,172 shares of the company’s stock, valued at $2,244,836. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in BIIB. Kings Point Capital Management purchased a new stake in Biogen during the second quarter worth $145,000. Signaturefd LLC increased its position in Biogen by 217.7% in the second quarter. Signaturefd LLC now owns 718 shares of the biotechnology company’s stock worth $174,000 after buying an additional 492 shares during the period. Lakeview Capital Partners LLC bought a new position in Biogen during the second quarter worth approximately $205,000. BLB&B Advisors LLC bought a new position in Biogen during the second quarter worth approximately $206,000. Finally, Bienville Capital Management LLC bought a new position in Biogen during the second quarter worth approximately $207,000. 86.21% of the stock is owned by institutional investors and hedge funds.
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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