Q2 2024 EPS Estimates for Biogen Inc. Lifted by Analyst (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) – Equities research analysts at Leerink Partnrs boosted their Q2 2024 earnings estimates for Biogen in a research report issued on Wednesday, April 24th. Leerink Partnrs analyst M. Goodman now anticipates that the biotechnology company will post earnings per share of $4.24 for the quarter, up from their previous estimate of $4.08. The consensus estimate for Biogen’s current full-year earnings is $15.48 per share. Leerink Partnrs also issued estimates for Biogen’s Q3 2024 earnings at $4.08 EPS, Q4 2024 earnings at $3.61 EPS and FY2024 earnings at $15.60 EPS.

Several other research analysts have also weighed in on the stock. Truist Financial reaffirmed a “buy” rating and set a $340.00 target price on shares of Biogen in a research note on Monday, March 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $364.00 target price on shares of Biogen in a research note on Tuesday, March 5th. Oppenheimer lowered their target price on shares of Biogen from $290.00 to $270.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Wedbush raised their price objective on shares of Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Barclays lowered their price objective on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and an average target price of $293.88.

Biogen Trading Up 3.2 %

Shares of BIIB stock opened at $208.90 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.26. The firm has a market cap of $30.37 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.92 and a beta of -0.02. The company has a 50-day moving average of $212.55 and a two-hundred day moving average of $233.78. Biogen has a 1-year low of $189.44 and a 1-year high of $319.76.

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

Institutional Trading of Biogen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. raised its holdings in Biogen by 1.1% during the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after purchasing an additional 42 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Biogen by 2.3% during the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after purchasing an additional 45 shares in the last quarter. PAX Financial Group LLC raised its holdings in Biogen by 2.9% during the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after purchasing an additional 45 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in Biogen by 2.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after purchasing an additional 45 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in Biogen by 3.2% during the third quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock worth $393,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling

In related news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction that occurred on Monday, February 12th. The shares were 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 in the company, valued at $1,081,356.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Insiders sold 882 shares of company stock worth $202,030 over the last 90 days. 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.