Brokerages expect that Biogen Inc (NASDAQ:BIIB) will post $3.43 billion in sales for the current fiscal quarter, according to Zacks. Thirty analysts have made estimates for Biogen’s earnings, with estimates ranging from $3.04 billion to $3.64 billion. Biogen reported sales of $3.62 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.2%. The company is expected to announce its next earnings report on Tuesday, July 28th.
According to Zacks, analysts expect that Biogen will report full-year sales of $14.00 billion for the current financial year, with estimates ranging from $13.44 billion to $14.46 billion. For the next year, analysts forecast that the company will post sales of $13.71 billion, with estimates ranging from $11.35 billion to $15.13 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Biogen.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 22nd. The biotechnology company reported $9.14 EPS for the quarter, topping analysts’ consensus estimates of $7.73 by $1.41. Biogen had a return on equity of 49.22% and a net margin of 40.76%. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.41 billion. During the same quarter last year, the company posted $6.98 earnings per share. Biogen’s quarterly revenue was up 1.3% on a year-over-year basis.
A number of equities research analysts have recently issued reports on BIIB shares. Citigroup cut Biogen from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $365.00 to $240.00 in a report on Thursday, April 23rd. Royal Bank of Canada reduced their price objective on Biogen from $303.00 to $273.00 and set a “sector perform” rating for the company in a report on Monday, June 22nd. Wolfe Research initiated coverage on shares of Biogen in a research report on Tuesday, March 31st. They issued a “market perform” rating and a $331.00 price target for the company. Barclays downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $370.00 to $280.00 in a research report on Monday, June 22nd. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Biogen in a research report on Friday, June 19th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. Biogen presently has a consensus rating of “Hold” and a consensus target price of $308.59.
Shares of NASDAQ:BIIB traded up $4.77 during trading on Friday, reaching $265.12. 38,506 shares of the stock were exchanged, compared to its average volume of 2,157,147. Biogen has a 12 month low of $215.77 and a 12 month high of $374.99. The firm has a market cap of $42.21 billion, a PE ratio of 8.19, a PEG ratio of 0.56 and a beta of 0.54. The stock has a 50-day moving average price of $294.22 and a 200-day moving average price of $302.21. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.39.
Several institutional investors have recently modified their holdings of the stock. Avidity Partners Management LP bought a new stake in shares of Biogen in the first quarter worth $19,616,000. Pathstone Family Office LLC boosted its position in Biogen by 363.5% during the first quarter. Pathstone Family Office LLC now owns 774 shares of the biotechnology company’s stock valued at $244,000 after acquiring an additional 607 shares during the last quarter. Optimal Asset Management Inc. boosted its position in Biogen by 150.5% during the first quarter. Optimal Asset Management Inc. now owns 6,026 shares of the biotechnology company’s stock valued at $1,907,000 after acquiring an additional 3,620 shares during the last quarter. National Pension Service boosted its position in Biogen by 1.2% during the first quarter. National Pension Service now owns 257,333 shares of the biotechnology company’s stock valued at $81,415,000 after acquiring an additional 3,028 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in Biogen during the first quarter valued at $13,911,000. 87.45% of the stock is currently owned by institutional investors.
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.
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