The William Blair Comments on Biogen Inc.’s FY2016 Earnings (BIIB)

The William Blair Comments on Biogen Inc.’s FY2016 Earnings (BIIB)

Biogen Inc. (NASDAQ:BIIB) – Equities researchers at William Blair lifted their FY2016 EPS estimates for Biogen in a research note issued to investors on Wednesday. William Blair analyst J. Sonnier now anticipates that the firm will post earnings of $20.08 per share for the year, up from their prior forecast of $19.94. William Blair also issued estimates for Biogen’s Q4 2016 earnings at $4.90 EPS, Q1 2017 earnings at $5.08 EPS, Q2 2017 earnings at $5.14 EPS, Q3 2017 earnings at $5.00 EPS, Q4 2017 earnings at $4.95 EPS and FY2017 earnings at $20.16 EPS.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 EPS for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.22. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Biogen had a return on equity of 40.02% and a net margin of 34.03%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $4.48 earnings per share.

BIIB has been the topic of a number of other reports. JPMorgan Chase & Co. reissued a “buy” rating and set a $386.00 price objective on shares of Biogen in a report on Friday, September 16th. Jefferies Group reissued a “buy” rating and set a $319.00 price objective on shares of Biogen in a report on Thursday, August 4th. Robert W. Baird reissued a “neutral” rating and set a $284.00 price objective on shares of Biogen in a report on Wednesday, August 10th. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 price objective on the stock in a report on Monday, September 12th. Finally, Piper Jaffray Cos. set a $333.00 price objective on shares of Biogen and gave the company a “hold” rating in a report on Thursday, September 22nd. Ten investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $342.17.

Shares of Biogen (NASDAQ:BIIB) opened at 283.64 on Monday. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65. The company has a market capitalization of $61.71 billion, a PE ratio of 16.04 and a beta of 0.95. The firm’s 50-day moving average price is $301.41 and its 200-day moving average price is $282.89.

In other Biogen news, Director Caroline Dorsa sold 27,570 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total value of $8,656,980.00. Following the completion of the sale, the director now owns 19,663 shares in the company, valued at approximately $6,174,182. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Adriana Karaboutis sold 380 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $313.00, for a total transaction of $118,940.00. Following the completion of the sale, the executive vice president now owns 7,172 shares of the company’s stock, valued at approximately $2,244,836. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio increased its stake in Biogen by 10.6% in the second quarter. Strs Ohio now owns 303,272 shares of the biotechnology company’s stock worth $73,337,000 after buying an additional 29,114 shares during the last quarter. Boston Advisors LLC boosted its stake in Biogen by 2,223.4% in the second quarter. Boston Advisors LLC now owns 127,347 shares of the biotechnology company’s stock valued at $30,795,000 after buying an additional 121,866 shares during the period. Artemis Investment Management LLP boosted its stake in Biogen by 203.9% in the second quarter. Artemis Investment Management LLP now owns 55,166 shares of the biotechnology company’s stock valued at $13,342,000 after buying an additional 37,015 shares during the period. Nuveen Asset Management LLC boosted its stake in Biogen by 101.9% in the first quarter. Nuveen Asset Management LLC now owns 101,785 shares of the biotechnology company’s stock valued at $26,497,000 after buying an additional 51,375 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Biogen by 8.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 71,248 shares of the biotechnology company’s stock valued at $17,229,000 after buying an additional 5,465 shares during the period. Institutional investors own 86.21% of the company’s stock.

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