Biogen (NASDAQ:BIIB) posted its earnings results on Thursday. The biotechnology company reported $5.68 EPS for the quarter, beating analysts' consensus estimates of $4.55 by $1.13, RTT News reports. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.61 billion. Biogen had a return on equity of 42.04% and a net margin of 23.89%. The company's quarterly revenue was down 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $10.26 EPS. Biogen updated its FY21 guidance to $17.50-19.00 EPS.
Shares of Biogen stock opened at $324.99 on Thursday. The stock has a market capitalization of $48.93 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.59 and a beta of 0.44. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.75 and a current ratio of 2.12. Biogen has a 12 month low of $223.25 and a 12 month high of $468.55. The company's fifty day moving average price is $333.47.
A number of research firms have recently commented on BIIB. HC Wainwright increased their target price on Biogen from $305.00 to $452.00 and gave the company a "buy" rating in a research report on Tuesday, June 8th. Cowen upgraded Biogen from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $225.00 to $450.00 in a research report on Monday, June 7th. The Goldman Sachs Group raised their price target on Biogen from $246.00 to $436.00 and gave the stock a "neutral" rating in a research report on Monday, June 14th. Piper Sandler upgraded Biogen from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $384.00 to $450.00 in a research report on Friday, June 18th. Finally, Oppenheimer raised their price target on Biogen from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 18th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Biogen presently has a consensus rating of "Buy" and a consensus price target of $385.10.
In other Biogen news, insider Alfred Sandrock sold 7,672 shares of Biogen stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $440.00, for a total value of $3,375,680.00. Following the transaction, the insider now owns 2,919 shares in the company, valued at $1,284,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian S. Posner sold 360 shares of Biogen stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $274.17, for a total value of $98,701.20. Following the completion of the transaction, the director now owns 7,400 shares in the company, valued at approximately $2,028,858. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
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