Biogen Inc. (NASDAQ:BIIB) to Post Q2 2024 Earnings of $3.79 Per Share, William Blair Forecasts

Biogen Inc. (NASDAQ:BIIB) – Research analysts at William Blair boosted their Q2 2024 earnings per share estimates for shares of Biogen in a research note issued on Thursday, April 25th. William Blair analyst M. Minter now forecasts that the biotechnology company will post earnings of $3.79 per share for the quarter, up from their previous estimate of $3.53. William Blair has a “Outperform” rating on the stock. The consensus estimate for Biogen’s current full-year earnings is $15.48 per share. William Blair also issued estimates for Biogen’s Q3 2025 earnings at $4.04 EPS and Q4 2025 earnings at $4.40 EPS.

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

Other equities analysts have also issued reports about the company. Canaccord Genuity Group cut their target price on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. JPMorgan Chase & Co. cut their target price on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $364.00 target price on shares of Biogen in a research report on Tuesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $311.00 target price on shares of Biogen in a research report on Tuesday, February 20th. Finally, Piper Sandler lowered their price target on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and an average target price of $293.88.

Biogen Stock Performance

Shares of BIIB opened at $208.90 on Friday. The business’s 50 day moving average is $212.55 and its two-hundred day moving average is $233.78. Biogen has a 52-week low of $189.44 and a 52-week high of $319.76. The firm has a market cap of $30.37 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.92 and a beta of -0.02. The company has a quick ratio of 1.26, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

Institutional Trading of Biogen

Several institutional investors have recently modified their holdings of BIIB. Vanguard Group Inc. lifted its holdings in shares of Biogen by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after buying an additional 2,218,744 shares during the period. Norges Bank acquired a new stake in shares of Biogen in the fourth quarter valued at $378,728,000. FIL Ltd lifted its holdings in shares of Biogen by 936.4% in the fourth quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock valued at $169,883,000 after buying an additional 593,158 shares during the period. First Trust Advisors LP lifted its holdings in shares of Biogen by 141.0% in the fourth quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock valued at $252,898,000 after buying an additional 571,795 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Biogen by 24,726.3% in the fourth quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock valued at $123,411,000 after buying an additional 474,992 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling

In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Priya Singhal sold 419 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold a total of 882 shares of company stock worth $202,030 in the last three months. 0.60% of the stock is owned by insiders.

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.