Biogen Inc. (NASDAQ:BIIB) Expected to Post Quarterly Sales of $2.50 Billion

Wall Street brokerages forecast that Biogen Inc. (NASDAQ:BIIBGet Rating) will report sales of $2.50 billion for the current fiscal quarter, Zacks Investment Research reports. Twenty Nine analysts have issued estimates for Biogen’s earnings, with the lowest sales estimate coming in at $2.36 billion and the highest estimate coming in at $2.60 billion. Biogen reported sales of $2.78 billion in the same quarter last year, which would suggest a negative year over year growth rate of 10.1%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Biogen will report full-year sales of $9.84 billion for the current fiscal year, with estimates ranging from $9.67 billion to $10.04 billion. For the next fiscal year, analysts expect that the firm will report sales of $9.49 billion, with estimates ranging from $8.68 billion to $10.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Biogen.

Biogen (NASDAQ:BIIBGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The biotechnology company reported $3.62 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.79). Biogen had a net margin of 13.40% and a return on equity of 23.46%. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the business earned $5.34 earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis.

A number of analysts have recently issued reports on the company. BMO Capital Markets cut Biogen from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $260.00 to $238.00 in a report on Friday, February 4th. Robert W. Baird dropped their price target on Biogen from $258.00 to $224.00 and set a “neutral” rating on the stock in a research report on Friday, February 4th. Barclays lowered their price objective on Biogen from $219.00 to $210.00 in a research note on Wednesday, May 4th. Wolfe Research lowered their price objective on Biogen from $244.00 to $217.00 and set a “peer perform” rating for the company in a research note on Friday, February 4th. Finally, Morgan Stanley decreased their price target on Biogen from $330.00 to $283.00 and set an “overweight” rating for the company in a research note on Tuesday, April 12th. Seventeen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $284.47.

NASDAQ:BIIB opened at $199.65 on Monday. The company has a market capitalization of $29.24 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.20 and a beta of 0.42. The stock has a fifty day simple moving average of $207.05 and a 200-day simple moving average of $222.63. Biogen has a 52-week low of $187.16 and a 52-week high of $468.55. The company has a quick ratio of 1.70, a current ratio of 2.01 and a debt-to-equity ratio of 0.56.

A number of institutional investors have recently bought and sold shares of the business. Curi Wealth Management LLC raised its stake in shares of Biogen by 476.2% during the first quarter. Curi Wealth Management LLC now owns 121 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Avondale Wealth Management purchased a new stake in Biogen in the fourth quarter worth about $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Biogen during the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Biogen during the fourth quarter valued at approximately $27,000. Finally, Amplius Wealth Advisors LLC purchased a new stake in shares of Biogen during the fourth quarter valued at approximately $28,000. 83.92% of the stock is owned by institutional investors and hedge funds.

Biogen Company Profile (Get Rating)

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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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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