Biogen Inc (NASDAQ:BIIB) – Equities researchers at Oppenheimer upped their Q4 2018 earnings estimates for shares of Biogen in a research note issued to investors on Tuesday. Oppenheimer analyst J. Olson now anticipates that the biotechnology company will post earnings of $6.41 per share for the quarter, up from their previous estimate of $5.74. Oppenheimer currently has a “Buy” rating and a $380.00 price objective on the stock. Oppenheimer also issued estimates for Biogen’s Q1 2019 earnings at $6.30 EPS, Q2 2019 earnings at $6.71 EPS, Q3 2019 earnings at $6.92 EPS and Q4 2019 earnings at $6.93 EPS.
Several other equities research analysts have also commented on BIIB. Mizuho reiterated a “neutral” rating and issued a $319.00 price objective on shares of Biogen in a research report on Monday, October 2nd. Morgan Stanley upgraded shares of Biogen from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $311.00 to $375.00 in a research report on Thursday, October 5th. Royal Bank of Canada reiterated a “hold” rating and issued a $315.00 price objective on shares of Biogen in a research report on Thursday, October 5th. Stifel Nicolaus reiterated a “hold” rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, October 12th. Finally, Bank of America boosted their price objective on shares of Biogen from $358.00 to $365.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $353.75.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.70 by $0.61. The company 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 business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.19 EPS.
In other news, Director Robert W. Pangia sold 5,832 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the completion of the transaction, the director now owns 23,539 shares of the company’s stock, valued at approximately $7,759,631.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alexander J. Denner acquired 30,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were bought at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the purchase, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 31,560 shares of company stock valued at $10,020,858. Corporate insiders own 0.25% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BIIB. Janus Henderson Group PLC increased its stake 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 valued at $392,265,000 after acquiring an additional 1,414,707 shares during the last quarter. Ameriprise Financial Inc. increased its stake 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 valued at $723,142,000 after acquiring an additional 600,384 shares during the last quarter. FMR LLC increased its stake 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 valued at $1,656,390,000 after acquiring an additional 561,436 shares during the last quarter. Bank of New York Mellon Corp increased its stake 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 valued at $728,314,000 after acquiring an additional 450,207 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake 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 valued at $517,434,000 after acquiring an additional 426,821 shares during the last quarter. 88.14% of the stock is owned by institutional investors.
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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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