Biogen Inc (NASDAQ:BIIB) – Equities research analysts at Oppenheimer cut their Q3 2016 EPS estimates for Biogen in a report released on Thursday, according to Zacks Investment Research. Oppenheimer analyst A. Felt now anticipates that the firm will earn $4.98 per share for the quarter, down from their prior estimate of $5.37. Oppenheimer also issued estimates for Biogen’s Q4 2016 earnings at $5.15 EPS, Q4 2017 earnings at $4.94 EPS and FY2020 earnings at $22.42 EPS.

BIIB has been the topic of several other research reports. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Wednesday, January 27th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $414.00 price objective on shares of Biogen in a research note on Tuesday, October 20th. Wells Fargo reissued an “outperform” rating on shares of Biogen in a research note on Friday, January 22nd. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $317.87 price objective on the stock. in a research note on Wednesday, October 28th. Finally, Piper Jaffray raised shares of Biogen from a “neutral” rating to an “overweight” rating in a research note on Thursday, November 5th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and an average price target of $375.29.

Biogen (NASDAQ:BIIB) opened at 273.06 on Monday. Biogen has a 12-month low of $254.00 and a 12-month high of $480.18. The company has a market capitalization of $60.18 billion and a P/E ratio of 17.80. The company has a 50-day moving average of $285.04 and a 200 day moving average of $298.99.

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

In other Biogen news, CMO Alfred Sandrock sold 441 shares of the stock in a transaction on Friday, December 4th. The shares were sold at an average price of $277.00, for a total transaction of $122,157.00. Following the completion of the transaction, the chief marketing officer now owns 7,740 shares in the company, valued at $2,143,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Other institutional investors have added to or reduced their stakes in the company. Verde Servico Internacionais acquired a new position in Biogen during the fourth quarter valued at approximately $30,425,000. Montrusco Bolton Investments raised its position in Biogen by 84.8% in the fourth quarter. Montrusco Bolton Investments now owns 54,863 shares of the biotechnology company’s stock valued at $16,741,000 after buying an additional 25,180 shares during the period. LGT Capital Partners raised its position in Biogen by 243.7% in the fourth quarter. LGT Capital Partners now owns 49,830 shares of the biotechnology company’s stock valued at $15,265,000 after buying an additional 35,330 shares during the period. Fourth Swedish National Pension Fund raised its position in Biogen by 3.1% in the fourth quarter. Fourth Swedish National Pension Fund now owns 47,876 shares of the biotechnology company’s stock valued at $14,667,000 after buying an additional 1,462 shares during the period. Finally, Country Trust Bank raised its position in Biogen by 27.7% in the fourth quarter. Country Trust Bank now owns 23,688 shares of the biotechnology company’s stock valued at $7,257,000 after buying an additional 5,143 shares during the period.

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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