Wall Street brokerages predict that Biogen Inc (NASDAQ:BIIB) will post $3.32 billion in sales for the current quarter, Zacks reports. Twenty Six analysts have issued estimates for Biogen’s earnings, with estimates ranging from $3.17 billion to $3.46 billion. Biogen reported sales of $3.08 billion in the same quarter last year, which would suggest a positive year over year growth rate of 7.8%. The company is expected to report its next earnings report on Tuesday, October 23rd.

On average, analysts expect that Biogen will report full-year sales of $13.19 billion for the current financial year, with estimates ranging from $12.89 billion to $13.44 billion. For the next financial year, analysts anticipate that the business will post sales of $13.59 billion per share, with estimates ranging from $12.92 billion to $14.64 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Biogen.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.22 by $0.58. The business had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Biogen had a return on equity of 38.17% and a net margin of 23.06%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.04 EPS.

Several analysts have weighed in on BIIB shares. Citigroup raised Biogen from a “neutral” rating to a “buy” rating and set a $371.00 price objective on the stock in a research report on Friday, July 6th. Cowen reaffirmed a “buy” rating and set a $408.00 price objective on shares of Biogen in a research report on Tuesday, July 24th. SunTrust Banks lifted their price objective on Biogen from $321.00 to $392.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Cantor Fitzgerald set a $293.00 price objective on Biogen and gave the company a “hold” rating in a research report on Wednesday, July 25th. Finally, Nomura reiterated a “buy” rating and set a $420.00 target price on shares of Biogen in a report on Friday, July 6th. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and an average target price of $375.52.

Biogen stock traded up $2.49 during trading hours on Thursday, hitting $336.89. 1,243,200 shares of the stock traded hands, compared to its average volume of 1,667,363. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.06 and a current ratio of 2.36. The stock has a market cap of $68.22 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.31 and a beta of 0.90. Biogen has a one year low of $249.17 and a one year high of $388.67.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rainier Group Investment Advisory LLC purchased a new position in Biogen in the 1st quarter worth approximately $100,000. Point72 Asia Hong Kong Ltd purchased a new stake in Biogen during the 1st quarter valued at $105,000. McKinley Carter Wealth Services Inc. purchased a new stake in Biogen during the 1st quarter valued at $110,000. Adviser Investments LLC raised its stake in Biogen by 745.7% during the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 343 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in Biogen by 141.8% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 503 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 295 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

Biogen Company Profile

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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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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