Biogen Inc. (NASDAQ:BIIB) – Investment analysts at Leerink Swann decreased their FY2017 earnings per share estimates for shares of Biogen in a research report issued on Wednesday. Leerink Swann analyst G. Porges now forecasts that the brokerage will post earnings per share of $20.96 for the year, down from their previous forecast of $21.04. Leerink Swann currently has a “Hold” rating and a $367.00 target price on the stock. Leerink Swann also issued estimates for Biogen’s FY2018 earnings at $23.02 EPS.

Other analysts have also issued research reports about the company. Zacks Investment Research raised Biogen from a “hold” rating to a “buy” rating and set a $274.00 target price on the stock in a report on Tuesday, July 5th. Vetr lowered Biogen from a “strong-buy” rating to a “buy” rating and set a $261.63 target price on the stock. in a report on Monday, July 4th. Morgan Stanley reiterated a “buy” rating on shares of Biogen in a research report on Thursday, June 30th. Jefferies Group reiterated a “buy” rating on shares of Biogen in a research report on Thursday, June 30th. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Biogen in a research report on Thursday, June 30th. Ten investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and an average target price of $347.34.

Earnings History and Estimates for Biogen (NASDAQ:BIIB)

Biogen (NASDAQ:BIIB) traded down 1.33% during mid-day trading on Thursday, reaching $290.50. 1,149,803 shares of the company’s stock were exchanged. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65. The company’s 50 day moving average price is $305.97 and its 200-day moving average price is $280.96. The company has a market capitalization of $63.65 billion, a P/E ratio of 16.97 and a beta of 0.95.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, topping analysts’ consensus estimates of $4.69 by $0.52. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter last year, the company earned $4.22 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. National Pension Service boosted its position in shares of Biogen by 8.7% in the third quarter. National Pension Service now owns 141,862 shares of the biotechnology company’s stock worth $44,407,000 after buying an additional 11,377 shares during the last quarter. Cohen Capital Management Inc. purchased a new position in shares of Biogen during the third quarter worth approximately $203,000. Canandaigua National Bank & Trust Co. purchased a new position in shares of Biogen during the third quarter worth approximately $203,000. Nisa Investment Advisors LLC boosted its position in shares of Biogen by 13.4% in the third quarter. Nisa Investment Advisors LLC now owns 85,978 shares of the biotechnology company’s stock worth $26,914,000 after buying an additional 10,130 shares during the last quarter. Finally, CT Financial Advisors LLC boosted its position in shares of Biogen by 2.9% in the third quarter. CT Financial Advisors LLC now owns 917 shares of the biotechnology company’s stock worth $287,000 after buying an additional 26 shares during the last quarter. Institutional investors own 86.21% of the company’s stock.

In other Biogen news, CEO George A. Scangos sold 157 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was 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 in the company, valued at $15,338,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Adriana Karaboutis sold 262 shares of the company’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $311.94, for a total value of $81,728.28. Following the sale, the executive vice president now owns 7,579 shares of the company’s stock, valued at $2,364,193.26. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Biogen Company Profile

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.

5 Day Chart for NASDAQ:BIIB

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