Biogen Inc (NASDAQ:BIIB) – Equities researchers at Jefferies Group dropped their FY2016 EPS estimates for shares of Biogen in a note issued to investors on Wednesday, according to Zacks Investment Research. Jefferies Group analyst B. Abrahams now expects that the firm will post earnings per share of $18.90 for the year, down from their prior forecast of $20.86. Jefferies Group currently has a “Buy” rating and a $322.00 target price on the stock. The consensus estimate for Biogen’s FY2016 earnings is $18.55 per share. Jefferies Group also issued estimates for Biogen’s Q4 2016 earnings at $4.92 EPS, FY2017 earnings at $20.79 EPS, FY2018 earnings at $22.11 EPS, FY2019 earnings at $23.54 EPS and FY2020 earnings at $25.92 EPS.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, January 27th. The biotechnology company reported $4.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.08 by $0.42. The company earned $2.84 billion during the quarter, compared to the consensus estimate of $2.70 billion. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.09 earnings per share.

BIIB has been the subject of a number of other reports. Cowen and Company reaffirmed an “outperform” rating and issued a $368.00 price target on shares of Biogen in a research note on Thursday, October 22nd. Standpoint Research began coverage on Biogen in a research note on Thursday, January 7th. They issued a “buy” rating and a $360.00 price target for the company. Zacks Investment Research cut Biogen from a “hold” rating to a “sell” rating in a research note on Thursday, October 1st. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $337.17 price target for the company. in a research note on Monday, December 28th. Finally, Wells Fargo began coverage on Biogen in a research note on Thursday, December 3rd. They issued an “outperform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Biogen currently has a consensus rating of “Buy” and an average target price of $375.29.

Biogen (NASDAQ:BIIB) traded up 2.67% during trading on Friday, hitting $273.06. 3,076,955 shares of the stock were exchanged. Biogen has a 1-year low of $254.00 and a 1-year high of $480.18. The stock has a market cap of $60.87 billion and a price-to-earnings ratio of 17.84. The firm’s 50 day moving average price is $285.55 and its 200-day moving average price is $299.84.

In related news, CMO Alfred Sandrock sold 441 shares of the firm’s stock in a transaction dated Friday, December 4th. The stock was sold at an average price of $277.00, for a total value of $122,157.00. Following the sale, the chief marketing officer now directly owns 7,740 shares of the company’s stock, valued at $2,143,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Other hedge funds have recently made changes to their positions in the company. Lau Associates raised its stake in shares of Biogen by 32.3% in the fourth quarter. Lau Associates now owns 4,920 shares of the biotechnology company’s stock worth $1,507,000 after buying an additional 1,200 shares during the last quarter. Proficio Capital Partners purchased a new stake in shares of Biogen during the fourth quarter worth approximately $733,000. Detwiler Fenton Investment Management purchased a new stake in shares of Biogen during the fourth quarter worth approximately $266,000. LGT Capital Partners raised its stake in shares of Biogen by 243.7% in the fourth quarter. LGT Capital Partners now owns 49,830 shares of the biotechnology company’s stock worth $15,265,000 after buying an additional 35,330 shares during the last quarter. Finally, Quantitative Systematic Strategies purchased a new stake in shares of Biogen during the fourth quarter worth approximately $1,641,000.

Biogen Inc., formerly Biogen Idec Inc., is a global biopharmaceutical company. The Company is focused on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders. The Company develops, manufactures and markets products designed for the treatment of multiple sclerosis (NASDAQ:BIIB) and hemophilia A and B. The Company’s marketed products include AVONEX, PLEGRIDY, TECFIDERA, TYSABRI, FAMPYRA for multiple sclerosis (MS), ALPROLIX for hemophilia B, and ELOCTATE for hemophilia A, among others. It also collaborates on the development and commercialization of RITUXAN (rituximab), which is a monoclonal antibody for the treatment of non-Hodgkin’s lymphoma, chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA, which is for the treatment of chronic lymphocytic leukemia.

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