William Blair Research Analysts Raise Earnings Estimates for Biogen Inc. (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIBGet Rating) – Stock analysts at William Blair lifted their Q1 2023 earnings per share estimates for Biogen in a research report issued on Monday, April 18th. William Blair analyst M. Minter now anticipates that the biotechnology company will post earnings per share of $4.47 for the quarter, up from their previous estimate of $4.43. William Blair also issued estimates for Biogen’s Q2 2023 earnings at $4.51 EPS, Q3 2023 earnings at $2.46 EPS, Q4 2023 earnings at $2.89 EPS and Q1 2024 earnings at $5.11 EPS.

Several other research firms have also recently issued reports on BIIB. SVB Leerink decreased their price target on shares of Biogen from $325.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, January 24th. Needham & Company LLC lowered their target price on shares of Biogen from $290.00 to $262.00 and set a “buy” rating for the company in a research note on Friday, April 8th. Oppenheimer reduced their price target on Biogen from $285.00 to $240.00 and set an “outperform” rating on the stock in a research note on Friday, April 8th. Morgan Stanley lowered their price objective on Biogen from $330.00 to $283.00 and set an “overweight” rating for the company in a research report on Tuesday, April 12th. Finally, UBS Group dropped their target price on Biogen from $390.00 to $335.00 in a research note on Monday, January 3rd. Seventeen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $286.21.

Biogen stock opened at $220.43 on Thursday. The stock has a 50-day moving average price of $209.46 and a 200 day moving average price of $234.57. Biogen has a 52 week low of $192.67 and a 52 week high of $468.55. The stock has a market cap of $32.40 billion, a PE ratio of 21.20, a P/E/G ratio of 1.32 and a beta of 0.44. The company has a current ratio of 1.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

Biogen (NASDAQ:BIIBGet Rating) last announced its earnings results on Thursday, February 3rd. The biotechnology company reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.07. Biogen had a return on equity of 26.30% and a net margin of 14.17%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the firm earned $4.58 EPS. Biogen’s quarterly revenue was down 4.2% on a year-over-year basis.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Indie Asset Partners LLC lifted its holdings in Biogen by 3.1% in the 4th quarter. Indie Asset Partners LLC now owns 1,654 shares of the biotechnology company’s stock worth $397,000 after buying an additional 50 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its stake in shares of Biogen by 5.2% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 1,074 shares of the biotechnology company’s stock worth $258,000 after acquiring an additional 53 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in Biogen by 2.5% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,352 shares of the biotechnology company’s stock valued at $666,000 after purchasing an additional 58 shares in the last quarter. Evolution Wealth Advisors LLC grew its stake in Biogen by 96.7% during the 3rd quarter. Evolution Wealth Advisors LLC now owns 120 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 59 shares in the last quarter. Finally, Shelton Capital Management increased its holdings in Biogen by 0.3% during the 3rd quarter. Shelton Capital Management now owns 18,656 shares of the biotechnology company’s stock worth $5,279,000 after purchasing an additional 63 shares during the last quarter. 82.10% of the stock is owned by institutional investors and hedge funds.

About Biogen (Get Rating)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

See Also

Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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