Brokers Set Expectations for Biogen Inc.’s Q2 2022 Earnings (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIBGet Rating) – Equities research analysts at Wedbush lifted their Q2 2022 EPS estimates for shares of Biogen in a report issued on Thursday, April 28th. Wedbush analyst L. Chico now forecasts that the biotechnology company will post earnings per share of $3.97 for the quarter, up from their prior forecast of $3.85. Wedbush currently has a “Neutral” rating on the stock. Wedbush also issued estimates for Biogen’s Q3 2022 earnings at $3.52 EPS, Q4 2022 earnings at $3.90 EPS, Q1 2023 earnings at $3.63 EPS, Q2 2023 earnings at $3.73 EPS, Q3 2023 earnings at $3.89 EPS, Q4 2023 earnings at $4.50 EPS, FY2023 earnings at $15.75 EPS, FY2024 earnings at $16.81 EPS, FY2025 earnings at $16.49 EPS and FY2026 earnings at $16.00 EPS.

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

Several other equities research analysts have also issued reports on the stock. Guggenheim lowered shares of Biogen from a “buy” rating to a “neutral” rating and dropped their target price for the company from $290.00 to $202.00 in a research report on Thursday, January 13th. Cowen lowered their price target on shares of Biogen from $375.00 to $285.00 and set an “outperform” rating for the company in a report on Friday, February 4th. Barclays reduced their price objective on shares of Biogen from $235.00 to $219.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 12th. Canaccord Genuity Group reduced their price objective on shares of Biogen from $335.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, February 7th. Finally, Royal Bank of Canada raised shares of Biogen from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $227.00 to $248.00 in a research report on Thursday, March 3rd. Seventeen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $285.25.

Shares of NASDAQ:BIIB opened at $210.41 on Friday. The company has a 50 day moving average of $209.19 and a 200 day moving average of $231.55. The stock has a market cap of $30.92 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.36 and a beta of 0.44. Biogen has a 12 month low of $192.67 and a 12 month high of $468.55. The company has a current ratio of 1.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

Institutional investors have recently added to or reduced their stakes in the stock. Avondale Wealth Management acquired a new stake in shares of Biogen during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Biogen during the fourth quarter worth about $27,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Biogen during the fourth quarter worth about $27,000. Amplius Wealth Advisors LLC acquired a new stake in shares of Biogen during the fourth quarter worth about $28,000. Finally, Evolution Wealth Advisors LLC lifted its holdings in shares of Biogen by 96.7% during the third quarter. Evolution Wealth Advisors LLC now owns 120 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 59 shares during the period. 82.10% of the stock is owned by hedge funds and other institutional investors.

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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