Market Update: Biogen Idec Inc (NASDAQ:BIIB) – Biogen to Report Second Quarter 2016 Financial Results on July 21, 2016

[Business Wire] – Biogen Inc. today announced it will report second quarter 2016 financial results on Thursday, July 21, 2016, before the financial markets open. Read more on this. Biogen Inc. (BIIB) , with a current value of $52.00B, opened at $241.00. Looking at today’s market, BIIB one day range is $237.17 to $242.50 with its 52-week range being $236.54 to $420.99. Biogen (BIIB) shares are currently priced at 12.63x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 0.52x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $4.69 per share, which would be $0.47 better than the year-ago quarter and a $0.09 sequential increase. The full-year EPS estimate is $18.86, which would be a $1.85 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.79 Billion. If realized, that would be a 7.72% increase over the year-ago quarter. Recently, Citigroup downgraded BIIB from Buy to Neutral (Jun 7, 2016). Previously, Citigroup Initiated BIIB at to Buy. The average price target for BIIB shares by the analysts covering it is $336.33, which is 39.56% above where the stock opened. See more in (NASDAQ:BIIB) Similar Articles: Company Update: Biogen Idec Inc (NASDAQ:BIIB) – Biogen’s Investigational Alzheimer’s Disease Treatment Aducanumab Accepted into European Medicines Agency’s PRIME Program Market Update: Biogen Idec Inc (NASDAQ:BIIB) – Biogen Appoints Michael Ehlers Executive Vice President, Research and Development Company Update (NASDAQ:BIIB): Biogen to Report Fourth Quarter and Year End 2015 Financial Results on January 27, 2016
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