Biogen (NASDAQ:BIIB) updated its FY 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $17.500-$19.000 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $18.590. The company issued revenue guidance of $10.65 billion-$10.85 billion, compared to the consensus revenue estimate of $10.63 billion.
Several research analysts have weighed in on BIIB shares. Cantor Fitzgerald reiterated a neutral rating and issued a $327.51 target price (down from $435.00) on shares of Biogen in a research note on Tuesday. Piper Sandler raised shares of Biogen from a neutral rating to an overweight rating and boosted their price objective for the company from $384.00 to $450.00 in a research note on Friday, June 18th. SVB Leerink upped their price objective on shares of Biogen from $380.00 to $475.00 and gave the stock an outperform rating in a research report on Thursday, June 10th. Barclays lifted their target price on shares of Biogen from $265.00 to $395.00 and gave the company an equal weight rating in a report on Tuesday, June 8th. Finally, raised Biogen from a sell rating to a neutral rating and lifted their price objective for the company from $200.00 to $440.00 in a report on Tuesday, June 8th. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Biogen currently has a consensus rating of Buy and an average target price of $390.47.
Biogen stock opened at $334.18 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.15 and a debt-to-equity ratio of 0.65. Biogen has a fifty-two week low of $223.25 and a fifty-two week high of $468.55. The business's fifty day moving average is $338.40. The stock has a market capitalization of $49.80 billion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 1.64 and a beta of 0.44.
Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, July 21st. The biotechnology company reported $5.68 earnings per share for the quarter, beating the consensus estimate of $4.55 by $1.13. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.61 billion. Biogen had a net margin of 16.40% and a return on equity of 34.74%. The firm's revenue for the quarter was down 24.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.26 EPS. Research analysts anticipate that Biogen will post 18.26 earnings per share for the current fiscal year.
In other news, Director Brian S. Posner sold 360 shares of the stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $274.17, for a total transaction of $98,701.20. Following the transaction, the director now directly owns 7,400 shares in the company, valued at approximately $2,028,858. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alfred Sandrock sold 7,672 shares of the business's stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $440.00, for a total transaction of $3,375,680.00. Following the completion of the sale, the insider now owns 2,919 shares of the company's stock, valued at $1,284,360. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.
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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