Biogen Inc to Post Q4 2017 Earnings of $5.07 Per Share, Jefferies Group Forecasts (BIIB)

Biogen Inc (NASDAQ:BIIB) – Research analysts at Jefferies Group lowered their Q4 2017 earnings per share (EPS) estimates for Biogen in a research note issued to investors on Thursday. Jefferies Group analyst M. Yee now expects that the biotechnology company will earn $5.07 per share for the quarter, down from their prior forecast of $5.36.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.70 by $0.61. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.19 EPS.

BIIB has been the topic of several other research reports. Citigroup lowered shares of Biogen from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Mizuho set a $400.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Monday, November 13th. Stifel Nicolaus reiterated a “hold” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, October 12th. Credit Suisse Group upgraded shares of Biogen from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $321.00 to $385.00 in a research note on Wednesday. Finally, Robert W. Baird reiterated a “hold” rating and issued a $290.00 price objective on shares of Biogen in a research note on Friday, August 25th. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Biogen has an average rating of “Buy” and a consensus price target of $350.13.

Biogen (NASDAQ BIIB) opened at $319.50 on Friday. The firm has a market cap of $68,205.52, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.01 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84.

Several large investors have recently added to or reduced their stakes in BIIB. Janus Henderson Group PLC lifted its holdings in shares of Biogen by 4,585.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after acquiring an additional 1,414,707 shares during the period. Ameriprise Financial Inc. increased its position in shares of Biogen by 35.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after purchasing an additional 600,384 shares in the last quarter. FMR LLC increased its position in shares of Biogen by 10.1% during the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after purchasing an additional 561,436 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Biogen by 24.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock worth $728,314,000 after purchasing an additional 450,207 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Biogen by 28.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,906,820 shares of the biotechnology company’s stock worth $517,434,000 after purchasing an additional 426,821 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

In related news, Director Alexander J. Denner purchased 30,000 shares of Biogen stock in a transaction on Wednesday, November 29th. The stock was purchased at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the acquisition, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

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About Biogen

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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