Biogen Inc. to Post Q2 2022 Earnings of $4.28 Per Share, SVB Leerink Forecasts (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIBGet Rating) – Equities research analysts at SVB Leerink lowered their Q2 2022 earnings estimates for shares of Biogen in a report released on Tuesday, May 3rd. SVB Leerink analyst M. Goodman now anticipates that the biotechnology company will post earnings per share of $4.28 for the quarter, down from their prior estimate of $4.30. SVB Leerink currently has a “Outperform” rating and a $270.00 target price on the stock. SVB Leerink also issued estimates for Biogen’s Q3 2022 earnings at $3.84 EPS, Q4 2022 earnings at $3.86 EPS, FY2025 earnings at $16.30 EPS and FY2026 earnings at $17.90 EPS.

BIIB has been the subject of several other reports. Oppenheimer dropped their target price on shares of Biogen from $240.00 to $225.00 in a research report on Wednesday. Morgan Stanley dropped their target price on shares of Biogen from $330.00 to $283.00 and set an “overweight” rating for the company in a research report on Tuesday, April 12th. Truist Financial dropped their target price on shares of Biogen from $502.00 to $343.00 and set a “buy” rating for the company in a research report on Monday, January 10th. Stifel Nicolaus cut shares of Biogen from a “buy” rating to a “hold” rating and dropped their target price for the stock from $304.00 to $223.00 in a research report on Tuesday, March 8th. Finally, Canaccord Genuity Group dropped their target price on shares of Biogen from $335.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, February 7th. Seventeen investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $284.47.

Shares of Biogen stock opened at $201.18 on Friday. The company’s fifty day simple moving average is $209.04 and its two-hundred day simple moving average is $228.96. Biogen has a 12-month low of $192.67 and a 12-month high of $468.55. The company has a quick ratio of 1.51, a current ratio of 2.01 and a debt-to-equity ratio of 0.56. The firm has a market cap of $29.60 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.28 and a beta of 0.42.

Biogen (NASDAQ:BIIBGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported $3.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.38 by ($0.76). The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. Biogen had a return on equity of 23.46% and a net margin of 13.40%. Biogen’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the business earned $5.34 EPS.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Avondale Wealth Management bought a new stake in Biogen during the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC bought a new stake in Biogen during the fourth quarter valued at approximately $27,000. Equitec Proprietary Markets LLC bought a new stake in Biogen during the fourth quarter valued at approximately $27,000. Amplius Wealth Advisors LLC bought a new stake in Biogen during the fourth quarter valued at approximately $28,000. Finally, Evolution Wealth Advisors LLC grew its position in Biogen by 96.7% during the third quarter. Evolution Wealth Advisors LLC now owns 120 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 59 shares during the period. Institutional investors own 83.92% of the company’s stock.

Biogen Company Profile (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.

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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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