Brokers Issue Forecasts for Biogen Inc.’s Q3 2024 Earnings (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) – Equities research analysts at Wedbush lowered their Q3 2024 EPS estimates for shares of Biogen in a report issued on Wednesday, April 24th. Wedbush analyst L. Chico now expects that the biotechnology company will post earnings per share of $4.02 for the quarter, down from their prior forecast of $4.13. Wedbush currently has a “Neutral” rating and a $215.00 target price on the stock. The consensus estimate for Biogen’s current full-year earnings is $15.57 per share. Wedbush also issued estimates for Biogen’s Q1 2025 earnings at $3.66 EPS, Q2 2025 earnings at $3.53 EPS, Q3 2025 earnings at $3.94 EPS, Q4 2025 earnings at $4.07 EPS, FY2025 earnings at $15.19 EPS and FY2026 earnings at $18.00 EPS.

BIIB has been the topic of several other reports. Barclays decreased their price target on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday. UBS Group lowered their target price on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Bank Of America (Bofa) reduced their price target on Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. BMO Capital Markets lowered their price objective on Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $311.00 target price on shares of Biogen in a research report on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average target price of $293.88.

Biogen Trading Up 3.2 %

Biogen stock opened at $208.90 on Monday. The stock has a market cap of $30.42 billion, a PE ratio of 26.08, a P/E/G ratio of 2.13 and a beta of -0.02. The company has a current ratio of 2.10, a quick ratio of 1.26 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $212.55 and a 200 day moving average price of $233.34. Biogen has a 52 week low of $189.44 and a 52 week high of $319.76.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm posted $3.40 earnings per share. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year.

Insider Activity at Biogen

In related news, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the acquisition, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last three months, insiders sold 882 shares of company stock worth $202,030. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Biogen

A number of hedge funds and other institutional investors have recently modified their holdings of the business. OFI Invest Asset Management bought a new stake in shares of Biogen in the third quarter worth $26,000. Livelsberger Financial Advisory acquired a new position in Biogen during the 4th quarter worth $26,000. Rise Advisors LLC bought a new stake in shares of Biogen in the 1st quarter worth about $27,000. Gladius Capital Management LP acquired a new stake in shares of Biogen in the 3rd quarter valued at about $28,000. Finally, KB Financial Partners LLC raised its stake in shares of Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.