December 15th, 2015

Market Update: Biogen Idec Inc (NASDAQ:BIIB) – Biogen Appoints Michael Ehlers Executive Vice President, Research and Development

[Business Wire] – Biogen today announced the appointment of Michael Ehlers, M.D., Ph.D., as executive vice president, Research and Development. Read more on this. Biogen Inc. (BIIB) , currently valued at $61.66B, started trading this morning at $281.57. Today, shares have traded between $279.53 and $282.00 per share with a one year range of $242.07 to $420.99. BIIB shares are currently priced at 14.97x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -6.63x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 22 sell-side analysts are looking at $4.66 per share, which would be $0.44 better than the year-ago quarter and a $0.10 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $18.82 would be a $1.81 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.78 Billion. If reported, that would be a 7.34% increase over the year-ago quarter. More recently, Citigroup Initiated BIIB at Buy (Feb 25, 2016). Previously, Credit Suisse Initiated BIIB at to Neutral. The average price target for BIIB shares by the analysts covering it is $345.67, which is 22.77% above where the stock opened. See more in (NASDAQ:BIIB) Similar Articles: Market Update (NASDAQ:BIIB): Biogen to Present at the Goldman Sachs Alzheimer’s Symposium Market Update (NASDAQ:BIIB): Biogen 2015 Revenues Increase 11% to $10.8 Billion Stock Update (NASDAQ:BIIB): Biogen to Present at the 34th Annual J.P. Morgan Healthcare Conference
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