Wall Street brokerages forecast that Biogen Inc. (NASDAQ:BIIB) will report sales of $2.63 billion for the current quarter, according to Zacks. Thirty One analysts have provided estimates for Biogen’s earnings, with estimates ranging from $2.54 billion to $2.78 billion. Biogen reported sales of $2.85 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 7.7%. The firm is expected to report its next quarterly earnings results on Wednesday, February 2nd.
According to Zacks, analysts expect that Biogen will report full-year sales of $10.88 billion for the current year, with estimates ranging from $10.79 billion to $11.03 billion. For the next financial year, analysts anticipate that the company will post sales of $10.79 billion, with estimates ranging from $9.56 billion to $14.60 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Biogen.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 19th. The biotechnology company reported $4.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.09 by $0.68. Biogen had a return on equity of 28.36% and a net margin of 13.93%. The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm posted $8.84 earnings per share. The business’s revenue was down 17.7% on a year-over-year basis.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC raised its position in Biogen by 22.8% during the second quarter. Brandywine Global Investment Management LLC now owns 49,849 shares of the biotechnology company’s stock valued at $17,261,000 after buying an additional 9,268 shares during the period. CIBC Asset Management Inc grew its stake in Biogen by 2.3% during the 2nd quarter. CIBC Asset Management Inc now owns 27,601 shares of the biotechnology company’s stock valued at $9,557,000 after acquiring an additional 626 shares in the last quarter. LMR Partners LLP grew its stake in Biogen by 74.2% during the 2nd quarter. LMR Partners LLP now owns 22,806 shares of the biotechnology company’s stock valued at $7,897,000 after acquiring an additional 9,715 shares in the last quarter. Miller Value Partners LLC acquired a new position in shares of Biogen in the 2nd quarter valued at about $27,526,000. Finally, Boston Common Asset Management LLC lifted its position in shares of Biogen by 152.1% in the second quarter. Boston Common Asset Management LLC now owns 100,287 shares of the biotechnology company’s stock worth $34,726,000 after purchasing an additional 60,503 shares in the last quarter. Institutional investors own 84.20% of the company’s stock.
BIIB stock traded down $4.02 during trading on Friday, reaching $250.13. 1,579,981 shares of the company’s stock were exchanged, compared to its average volume of 1,368,230. Biogen has a 1-year low of $238.40 and a 1-year high of $468.55. The firm has a market cap of $36.74 billion, a PE ratio of 24.47, a P/E/G ratio of 1.85 and a beta of 0.42. The company’s fifty day moving average price is $275.85 and its 200-day moving average price is $311.85. The company has a quick ratio of 1.38, a current ratio of 1.70 and a debt-to-equity ratio of 0.58.
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.
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