Biogen Inc (BIIB) Expected to Post Earnings of $7.48 Per Share

Equities analysts expect Biogen Inc (NASDAQ:BIIB) to post earnings per share (EPS) of $7.48 for the current quarter, Zacks reports. Twenty Nine analysts have made estimates for Biogen’s earnings. The lowest EPS estimate is $6.26 and the highest is $8.11. Biogen posted earnings per share of $5.80 in the same quarter last year, which would indicate a positive year over year growth rate of 29%. The firm is scheduled to announce its next earnings report on Tuesday, July 23rd.

On average, analysts expect that Biogen will report full-year earnings of $29.58 per share for the current year, with EPS estimates ranging from $28.25 to $32.40. For the next fiscal year, analysts forecast that the company will report earnings of $30.78 per share, with EPS estimates ranging from $26.31 to $34.80. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Biogen.

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

BIIB has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Biogen in a report on Friday, February 22nd. They issued a “market perform” rating and a $322.00 price target for the company. Mizuho set a $427.00 target price on shares of Biogen and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Bank of America lowered shares of Biogen from a “buy” rating to a “neutral” rating in a research report on Thursday, March 21st. Citigroup boosted their price objective on shares of Biogen from $372.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 30th. Finally, Atlantic Securities lowered shares of Biogen from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $288.96.

Shares of NASDAQ BIIB traded up $0.45 during mid-day trading on Friday, reaching $231.04. The company’s stock had a trading volume of 59,700 shares, compared to its average volume of 2,098,261. The stock has a market capitalization of $44.71 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 0.89 and a beta of 1.01. The company has a quick ratio of 2.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.43. Biogen has a 1-year low of $216.12 and a 1-year high of $388.67.

In related news, Director Alexander J. Denner acquired 118,342 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $229.94 per share, with a total value of $27,211,559.48. Following the purchase, the director now directly owns 10,909 shares in the company, valued at approximately $2,508,415.46. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexander J. Denner acquired 50,342 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were bought at an average cost of $229.25 per share, with a total value of $11,540,903.50. Following the purchase, the director now owns 10,909 shares in the company, valued at $2,500,888.25. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 173,035 shares of company stock valued at $39,759,632. Corporate insiders own 0.29% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwest Wealth Management LLC increased its position in Biogen by 188.9% during the 1st quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 68 shares in the last quarter. Portfolio Solutions LLC acquired a new stake in Biogen during the 4th quarter worth approximately $26,000. Kore Private Wealth LLC acquired a new stake in Biogen during the 1st quarter worth approximately $26,000. Resources Investment Advisors Inc. increased its position in Biogen by 500.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Finally, Private Ocean LLC purchased a new position in Biogen in the 1st quarter worth approximately $31,000. 90.39% of the stock is owned by institutional investors.

About Biogen

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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