Biogen Inc (NASDAQ:BIIB) – Stock analysts at Jefferies Financial Group decreased their Q3 2018 EPS estimates for shares of Biogen in a report released on Monday, October 8th. Jefferies Financial Group analyst M. Yee now anticipates that the biotechnology company will earn $6.96 per share for the quarter, down from their prior forecast of $7.04. 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 Q4 2018 earnings at $6.80 EPS, FY2018 earnings at $25.57 EPS and Q2 2019 earnings at $6.11 EPS.
Other analysts also recently issued reports about the company. Mizuho set a $423.00 price objective on Biogen and gave the stock a “buy” rating in a research note on Friday, June 29th. BidaskClub downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 29th. ValuEngine downgraded Biogen from a “hold” rating to a “sell” rating in a research report on Friday. UBS Group increased their price target on Biogen from $354.00 to $395.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Finally, Citigroup increased their price target on Biogen to $483.00 and gave the company a “positive” rating in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $381.31.
Shares of Biogen stock opened at $330.94 on Thursday. The company has a market capitalization of $71.17 billion, a PE ratio of 15.21, a P/E/G 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 current ratio of 2.36 and a quick ratio of 2.06.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 24th. The biotechnology company reported $5.80 EPS for the quarter, topping the consensus estimate of $5.22 by $0.58. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.25 billion. Biogen had a return on equity of 38.17% and a net margin of 23.06%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $5.04 earnings per share.
In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at $1,498,350. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in BIIB. Rainier Group Investment Advisory LLC bought a new position in Biogen during the first quarter valued at $100,000. Point72 Asia Hong Kong Ltd bought a new position in Biogen during the first quarter valued at $105,000. McKinley Carter Wealth Services Inc. bought a new position in Biogen during the first quarter valued at $110,000. Adviser Investments LLC grew 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 purchasing an additional 343 shares during the period. Finally, NEXT Financial Group Inc bought a new position in Biogen during the third quarter valued at $133,000. 87.46% of the stock is owned by institutional investors and hedge funds.
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.
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