Biogen Inc (NASDAQ:BIIB) – Equities researchers at Cantor Fitzgerald raised their FY2019 earnings estimates for Biogen in a report issued on Wednesday, January 29th. Cantor Fitzgerald analyst A. Young now forecasts that the biotechnology company will earn $33.45 per share for the year, up from their previous estimate of $33.08.
Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. increased their price objective on Biogen from $244.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. ValuEngine upgraded Biogen from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. BidaskClub cut Biogen from a “hold” rating to a “sell” rating in a research report on Tuesday, January 7th. Cowen reiterated a “buy” rating and issued a $325.00 price objective on shares of Biogen in a research report on Thursday, January 2nd. Finally, Leerink Swann upgraded Biogen from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eleven have given a buy rating to the company’s stock. Biogen currently has a consensus rating of “Hold” and a consensus price target of $291.64.
NASDAQ:BIIB opened at $282.52 on Thursday. The stock has a fifty day moving average price of $293.07 and a two-hundred day moving average price of $261.59. The stock has a market capitalization of $50.88 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.74 and a current ratio of 1.91. Biogen has a 1 year low of $215.77 and a 1 year high of $338.87.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, January 30th. The biotechnology company reported $8.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $7.94 by $0.40. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Biogen had a return on equity of 46.14% and a net margin of 37.91%. Biogen’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.99 earnings per share.
Biogen declared that its board has authorized a stock repurchase plan on Saturday, December 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the biotechnology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Brian S. Posner sold 1,055 shares of Biogen stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $292.35, for a total transaction of $308,429.25. Following the completion of the sale, the director now owns 6,995 shares in the company, valued at approximately $2,044,988.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.39% of the company’s stock.
Large investors have recently modified their holdings of the business. Kistler Tiffany Companies LLC boosted its stake in Biogen by 41.7% in the 4th quarter. Kistler Tiffany Companies LLC now owns 119 shares of the biotechnology company’s stock worth $35,000 after buying an additional 35 shares during the last quarter. Bourgeon Capital Management LLC acquired a new stake in Biogen in the 3rd quarter worth about $30,000. Resources Management Corp CT ADV acquired a new stake in Biogen in the 3rd quarter worth about $34,000. Peddock Capital Advisors LLC acquired a new stake in Biogen in the 4th quarter worth about $45,000. Finally, HWG Holdings LP acquired a new position in shares of Biogen in the 4th quarter valued at about $47,000. 87.19% of the stock is currently owned by hedge funds and other 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.