FY2021 Earnings Forecast for Biogen Inc. (BIIB) Issued By Leerink Swann
Biogen Inc. (NASDAQ:BIIB) – Analysts at Leerink Swann increased their FY2021 EPS estimates for Biogen in a research note issued to investors on Monday. Leerink Swann analyst G. Porges now expects that the biotechnology company will post earnings of $26.27 per share for the year, up from their previous forecast of $25.76. Leerink Swann has a “Market Perform” rating and a $338.00 price objective on the stock.
A number of other research firms have also recently issued reports on BIIB. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price on the stock. in a research report on Tuesday, August 29th. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Cowen and Company reiterated an “outperform” rating and issued a $271.00 target price on shares of Biogen in a research report on Monday, July 3rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $315.00 target price on shares of Biogen in a research report on Thursday, October 5th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $310.00 target price on shares of Biogen in a research report on Tuesday, July 11th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $340.67.
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Shares of Biogen (BIIB) traded up 0.15% during midday trading on Wednesday, reaching $344.98. 906,435 shares of the company’s stock were exchanged. The company’s 50 day moving average is $319.52 and its 200-day moving average is $283.51. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84. The stock has a market cap of $72.94 billion, a PE ratio of 22.64 and a beta of 0.77.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the prior year, the firm earned $5.21 EPS. The company’s revenue was up 6.4% on a year-over-year basis.
Several hedge funds have recently bought and sold shares of the company. Fulton Bank N.A. grew its stake in shares of Biogen by 26.2% during the 3rd quarter. Fulton Bank N.A. now owns 1,429 shares of the biotechnology company’s stock worth $447,000 after acquiring an additional 297 shares during the period. Eqis Capital Management Inc. grew its stake in shares of Biogen by 61.1% during the 3rd quarter. Eqis Capital Management Inc. now owns 6,738 shares of the biotechnology company’s stock worth $2,110,000 after acquiring an additional 2,556 shares during the period. Intl Fcstone Inc. bought a new position in shares of Biogen during the 2nd quarter worth $1,218,000. Gs Investments Inc. bought a new position in shares of Biogen during the 2nd quarter worth $136,000. Finally, Sentry Investment Management LLC grew its stake in shares of Biogen by 1.2% during the 2nd quarter. Sentry Investment Management LLC now owns 27,364 shares of the biotechnology company’s stock worth $7,425,000 after acquiring an additional 327 shares during the period. Institutional investors own 87.62% of the company’s stock.
In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares in the company, valued at approximately $6,455,042.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.
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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