Equities analysts predict that Biogen Inc (NASDAQ:BIIB) will report earnings of $6.80 per share for the current fiscal quarter, Zacks Investment Research reports. Twenty Six analysts have issued estimates for Biogen’s earnings, with the lowest EPS estimate coming in at $6.49 and the highest estimate coming in at $7.23. Biogen reported earnings per share of $6.31 during the same quarter last year, which suggests a positive year over year growth rate of 7.8%. The firm is expected to announce its next earnings results on Tuesday, October 23rd.

On average, analysts expect that Biogen will report full-year earnings of $25.34 per share for the current fiscal year, with EPS estimates ranging from $24.94 to $26.21. For the next year, analysts anticipate that the firm will report earnings of $27.53 per share, with EPS estimates ranging from $25.98 to $30.29. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Biogen.

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

A number of research analysts recently commented on BIIB shares. Citigroup upgraded Biogen from a “neutral” rating to a “buy” rating and set a $371.00 price objective for the company in a research note on Friday, July 6th. Cowen restated a “buy” rating and set a $408.00 price objective on shares of Biogen in a research note on Tuesday, July 24th. SunTrust Banks upped their price objective on Biogen from $321.00 to $392.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. TheStreet upgraded Biogen from a “c” rating to a “b-” rating in a research note on Monday, April 30th. Finally, Nomura restated a “buy” rating and set a $420.00 price objective on shares of Biogen in a research note on Friday, July 6th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $374.50.

A number of hedge funds have recently made changes to their positions in BIIB. Global X Management Co. LLC boosted its position in Biogen by 13.2% during the 1st quarter. Global X Management Co. LLC now owns 5,014 shares of the biotechnology company’s stock worth $1,373,000 after acquiring an additional 586 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its position in Biogen by 11.6% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 429,995 shares of the biotechnology company’s stock worth $117,741,000 after acquiring an additional 44,786 shares during the period. FDx Advisors Inc. boosted its position in Biogen by 31.7% during the 1st quarter. FDx Advisors Inc. now owns 6,046 shares of the biotechnology company’s stock worth $1,656,000 after acquiring an additional 1,455 shares during the period. Daiwa Securities Group Inc. boosted its position in Biogen by 20.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 9,575 shares of the biotechnology company’s stock worth $2,622,000 after acquiring an additional 1,625 shares during the period. Finally, D.B. Root & Company LLC acquired a new position in Biogen during the 1st quarter worth $467,000. Institutional investors own 89.41% of the company’s stock.

Shares of NASDAQ BIIB opened at $342.33 on Friday. Biogen has a twelve month low of $249.17 and a twelve month high of $388.67. The company has a quick ratio of 2.06, a current ratio of 2.36 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $69.49 billion, a PE ratio of 15.70, a PEG ratio of 1.33 and a beta of 0.89.

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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