FY2019 EPS Estimates for Biogen Inc. Boosted by William Blair (BIIB)
Biogen Inc. (NASDAQ:BIIB) – William Blair lifted their FY2019 earnings per share estimates for shares of Biogen in a research report issued on Friday. William Blair analyst M. Phipps now forecasts that the biotechnology company will earn $26.14 per share for the year, up from their prior estimate of $26.11. William Blair currently has a “Outperform” rating on the stock.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the previous year, the company earned $5.21 earnings per share. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “FY2019 EPS Estimates for Biogen Inc. Boosted by William Blair (BIIB)” was first published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://theolympiareport.com/2017/08/28/fy2019-eps-estimates-for-biogen-inc-boosted-by-william-blair-biib.html.
Several other analysts have also recently issued reports on BIIB. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $301.89 price target on the stock. in a research report on Tuesday, May 2nd. Piper Jaffray Companies set a $442.00 price target on shares of Biogen and gave the stock a “buy” rating in a research report on Monday, May 15th. Cantor Fitzgerald reissued a “hold” rating and set a $277.00 price target on shares of Biogen in a research report on Thursday, May 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of Biogen in a research report on Thursday, May 25th. Finally, Mizuho reduced their price target on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 31st. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Biogen has a consensus rating of “Buy” and a consensus price target of $328.81.
Shares of Biogen (NASDAQ:BIIB) traded up 2.29% during trading on Monday, hitting $291.60. 271,173 shares of the company traded hands. The company has a market capitalization of $61.65 billion, a price-to-earnings ratio of 19.14 and a beta of 0.79. Biogen has a 52 week low of $244.28 and a 52 week high of $304.23. The company has a 50 day moving average price of $284.39 and a 200 day moving average price of $274.87.
In other news, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the transaction, the director now directly owns 6,330 shares in the company, valued at $1,622,442.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,816 shares of company stock worth $3,931,380. Insiders own 0.32% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Wrapmanager Inc. increased its stake in shares of Biogen by 7.7% in the first quarter. Wrapmanager Inc. now owns 5,525 shares of the biotechnology company’s stock valued at $1,511,000 after buying an additional 396 shares in the last quarter. Savant Capital LLC increased its stake in shares of Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 30 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after buying an additional 342,568 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Biogen during the first quarter valued at $26,224,000. Finally, Israel Discount Bank of New York bought a new stake in shares of Biogen during the first quarter valued at $894,000. Institutional investors and hedge funds own 87.25% of the company’s stock.
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).
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