Q1 2024 EPS Estimates for Biogen Inc. (NASDAQ:BIIB) Lifted by Leerink Partnrs

Biogen Inc. (NASDAQ:BIIB) – Analysts at Leerink Partnrs raised their Q1 2024 EPS estimates for Biogen in a note issued to investors on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now anticipates that the biotechnology company will post earnings of $3.31 per share for the quarter, up from their previous estimate of $3.25. The consensus estimate for Biogen’s current full-year earnings is $15.46 per share. Leerink Partnrs also issued estimates for Biogen’s Q2 2024 earnings at $4.08 EPS.

A number of other research analysts also recently issued reports on BIIB. UBS Group decreased their target price on shares of Biogen from $276.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Bank of America decreased their target price on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. Truist Financial restated a “buy” rating and set a $340.00 target price on shares of Biogen in a research report on Monday, March 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $311.00 price objective on shares of Biogen in a report on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $298.96.

Biogen Trading Down 2.7 %

NASDAQ BIIB opened at $198.18 on Friday. The company has a market capitalization of $28.81 billion, a PE ratio of 24.83, a P/E/G ratio of 1.69 and a beta of -0.02. The company has a fifty day moving average of $220.04 and a 200 day moving average of $238.02. Biogen has a 1 year low of $197.78 and a 1 year high of $319.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same quarter in the prior year, the firm earned $4.05 earnings per share.

Hedge Funds Weigh In On Biogen

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Snowden Capital Advisors LLC boosted its position in Biogen by 2.5% during the second quarter. Snowden Capital Advisors LLC now owns 1,591 shares of the biotechnology company’s stock worth $453,000 after acquiring an additional 39 shares during the last quarter. First Manhattan Co. boosted its holdings in Biogen by 33.3% in the 4th quarter. First Manhattan Co. now owns 160 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 40 shares during the last quarter. Systematic Financial Management LP boosted its holdings in Biogen by 2.5% in the 1st quarter. Systematic Financial Management LP now owns 1,640 shares of the biotechnology company’s stock valued at $456,000 after purchasing an additional 40 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Biogen by 1.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after purchasing an additional 42 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Biogen by 2.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock valued at $525,000 after purchasing an additional 45 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 262 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Priya Singhal sold 262 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the transaction, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The disclosure for this sale can be found here. Insiders sold 882 shares of company stock valued at $202,030 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Biogen Company Profile

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.