FY2021 EPS Estimates for Biogen Inc Raised by Analyst (NASDAQ:BIIB)

Biogen Inc (NASDAQ:BIIB) – Analysts at William Blair lifted their FY2021 earnings estimates for shares of Biogen in a note issued to investors on Wednesday, April 17th, Zacks Investment Research reports. William Blair analyst M. Phipps now anticipates that the biotechnology company will post earnings per share of $29.08 for the year, up from their previous forecast of $29.02. William Blair currently has a “Market Perform” rating on the stock.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.88 by $0.10. Biogen had a net margin of 33.79% and a return on equity of 41.39%. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the business earned $6.05 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year.

A number of other equities research analysts have also issued reports on the stock. Cowen cut their price target on shares of Biogen from $400.00 to $275.00 and set an “outperform” rating on the stock in a report on Thursday, March 21st. Piper Jaffray Companies cut their price target on shares of Biogen from $402.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Guggenheim set a $236.00 price target on shares of Biogen and gave the company a “hold” rating in a report on Friday, March 22nd. Mizuho set a $427.00 price target on shares of Biogen and gave the company a “buy” rating in a report on Tuesday, January 29th. Finally, BidaskClub downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 9th. Two equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $288.96.

Shares of BIIB stock traded down $2.24 during trading hours on Friday, reaching $226.23. 1,893,671 shares of the stock traded hands, compared to its average volume of 2,165,197. Biogen has a 1-year low of $216.12 and a 1-year high of $388.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.84 and a quick ratio of 2.60. The firm has a market capitalization of $44.30 billion, a P/E ratio of 8.63, a P/E/G ratio of 0.91 and a beta of 1.01.

In other Biogen news, Director Alexander J. Denner bought 50,342 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was bought at an average cost of $229.25 per share, with a total value of $11,540,903.50. Following the completion of the transaction, the director now directly owns 10,909 shares of the company’s stock, valued at approximately $2,500,888.25. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alexander J. Denner acquired 118,342 shares of Biogen stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average price of $229.94 per share, with a total value of $27,211,559.48. Following the completion of the purchase, the director now directly owns 10,909 shares of the company’s stock, valued at approximately $2,508,415.46. The disclosure for this purchase can be found here. Insiders acquired 173,035 shares of company stock valued at $39,759,632 over the last three months. Insiders own 0.29% of the company’s stock.

Several institutional investors have recently modified their holdings of BIIB. Oregon Public Employees Retirement Fund lifted its stake in shares of Biogen by 27,620.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock worth $48,000 after buying an additional 14,257,427 shares during the last quarter. Norges Bank acquired a new position in Biogen during the 4th quarter valued at $644,940,000. Boston Partners raised its stake in Biogen by 424.3% during the 1st quarter. Boston Partners now owns 922,718 shares of the biotechnology company’s stock valued at $218,113,000 after purchasing an additional 746,711 shares during the last quarter. Prudential Financial Inc. raised its stake in Biogen by 158.4% during the 4th quarter. Prudential Financial Inc. now owns 689,208 shares of the biotechnology company’s stock valued at $207,397,000 after purchasing an additional 422,529 shares during the last quarter. Finally, Parnassus Investments CA raised its stake in Biogen by 536.4% during the 4th quarter. Parnassus Investments CA now owns 350,000 shares of the biotechnology company’s stock valued at $105,322,000 after purchasing an additional 295,000 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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