Brokers Set Expectations for Biogen Inc.’s FY2021 Earnings (BIIB)
Biogen Inc. (NASDAQ:BIIB) – Stock analysts at Oppenheimer Holdings issued their FY2021 earnings per share estimates for shares of Biogen in a research note issued on Wednesday. Oppenheimer Holdings analyst J. Olson forecasts that the biotechnology company will earn $28.76 per share for the year. Oppenheimer Holdings has a “Outperform” rating and a $350.00 price target on the stock.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $5.19 EPS.
A number of other analysts also recently issued reports on the company. BMO Capital Markets raised their target price on Biogen from $381.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday. Canaccord Genuity began coverage on Biogen in a research note on Friday, October 27th. They set a “hold” rating and a $340.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $340.00 target price on shares of Biogen in a report on Wednesday, October 25th. Royal Bank Of Canada reduced their target price on Biogen from $315.00 to $313.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 25th. Finally, UBS AG upped their target price on Biogen from $285.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Twelve investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $341.89.
Biogen (NASDAQ:BIIB) traded up $0.48 during trading hours on Friday, hitting $310.44. The stock had a trading volume of 816,279 shares, compared to its average volume of 1,519,722. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. Biogen has a 1 year low of $244.28 and a 1 year high of $348.84. The company has a market cap of $65,050.00, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.95 and a beta of 0.72.
Several hedge funds and other institutional investors have recently bought and sold shares of BIIB. BlackRock Inc. grew its holdings in Biogen by 2.3% during the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock valued at $4,913,612,000 after purchasing an additional 415,099 shares during the last quarter. Vanguard Group Inc. increased its position in Biogen by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after purchasing an additional 182,337 shares during the period. State Street Corp increased its position in Biogen by 1.5% in the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after purchasing an additional 140,929 shares during the period. Clearbridge Investments LLC increased its position in Biogen by 4.0% in the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock worth $2,493,871,000 after purchasing an additional 351,224 shares during the period. Finally, FMR LLC grew its position 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 worth $1,656,390,000 after buying an additional 561,436 shares during the period. 87.76% of the stock is owned by institutional investors and hedge funds.
Biogen Company Profile
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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